Senate is still talking about Credit Card Relief

 

 

 

 

 

Senate Judiciary subcommittee is going though the proposed bill that Suze Orman has been talking about.  The bill won’t even go into effect until next year but it would give consumers a big leg up when trying to negotiate lower interest rates with credit card companies.  Interest rates on credit cards have become usury.  The article details how Douglas Corey’s interest rate jumped from 13% to 29% when he made less than the minimum on his payment for two months.  Credit card companies have started raising interest rates and crunching credit in a big way…and sometimes for customers who haven’t even had a late payment or less than the minimum.  But just like Suze, I think we need this bill now…now…not next summer. The average family has something like $10,000 in credit card debit-with a high interest rate that total could sky rocket by next summer.  

Senate Considers Relief for Credit Card Holders – washingtonpost.com.

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