Credit Card Act May Save You or Not

The Credit Card Bill Protections or Credit Card Act details are important. Not to mention the credit card disclosure. Knowing both could save you tons! To learn more about the Credit Card Bill go to this previous article — Credit Card Protections

With new credit card rules in place doesn’t mean the public is safe. See below what Credit Card companies are still allow to do and not do.

Credit Card Requirements and Rules That Affect You

Credit Card Rules and How They Affect You

• Credit cards all have important credit card disclosure statements that detail what you can expect (terms and conditions).
• Can credit card requirements change from a fixed rate to a variable rate? YES
• Can credit card require you to accept a higher rate? NO — The Credit Card Act requires a 45 notice, at which time you can close the account at the current rate.
• Can the credit card company close my account? YES
• Can your credit card fees be raised? YES

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