Credit Card Rate Hikes Coming for Many
March 4, 2008
If you hold a Bank of America credit card you should be watchful of the mail. Recently, Bank of America informed thousands of its cardholders that they would face a rate hike from 9 percent to as high as 28 percent if they did not pay off their balances at the old rate and stop using their cards. Many of these cardholders were current on their payments and in no way close to defaulting on their card loans. In other words, they were good customers.
Credit Card Bill of Rights
March 3, 2008
Representative Carolyn Maloney (D-NY), Chair of the Financial Institution and Consumer Credit Subcommittee, introduced a bill on February 7 that addresses current issues and problems associated with credit cards.
Mortgage Down Payment Dilemma
March 3, 2008
Home prices are falling. Inventories of homes for sale are up. In many ways this is a great buying opportunity for many of those looking to move from renter status to homeowner. But there are some pitfalls as well.