Kiss Credit Card Rip-offs Goodbye! Posted
by Meg at 02/04/08 04:27 PM
How often do consumers get nailed with outrageous credit card fees, hidden interest charges and unfair changes in terms? Here’s just one story, as reported in the Consumer Reports March issue:
“Elizabeth and Alan Green of San Diego thought the 2.99 percent interest rate on a new credit card sounded great, so they transferred the balance from an older credit card. They knew they’d have to pay a balance-transfer fee of 3%. But they didn’t know that the fee would be treated as a purchase and charged an interest rate of 16.74 percent...”
“Gotchas” like this in the credit card industry are all too common… but this Valentine’s Day Consumers Union is telling Congress to show consumers the love, and pass much-needed reforms to credit card industry practices.
We’re saying NO to outrageous fees and bait-and-switch type interest charges! You can join us at www.CreditCardReform.org : with one click you’ll send a real postcard to each of your representatives telling them to pass reforms to end credit card abuses. After you take action, Consumers Union will hand deliver the postcards in your name to your Representative and Senators on February 14th!
It’s time to kiss credit card rip-offs goodbye: send your Valentine message to Congress now!
www.CreditCardReform.org
comments
(3)
1
Posted by karen oprea at 03/13/08 08:25 PM
Dear Representative:
Please protect consumers from excessive fees and hidden charges from credit card companies. If there is no change in a person's credit history, the card company should not be able to dramatically change the terms of the contract.
Thanks,
Karen oprea
2
Posted by MT Guernic at 07/11/08 01:59 AM
Stop finance charges for 6 months on an account in good standing.
3
Posted by Kathleen Harris at 08/08/08 05:32 PM
Every month I paid over the minumum balance and still they kept on tacking on fees. A $500 Capital One Credit card that has been barely used now has a balance of over $600. I am in position to pay a monthly charge of $100.
