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 I Hate Credit Cards!
Here we know you will find all the credit card information you need! We are impartial concerning credit card issues, such as debt, interest rates, types of credit cards, credit card stories, credit card traps, bankruptcy and credit cards, and tips on getting out of credit card debt. Start here...
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 WARNING SIGNS
Warning signs of being overextended on credit:
- Paying only the minimum payment month after month;
- Being out of cash constantly;
- Being late on important payments, such as rent or mortgage;
- Taking longer and longer to pay off balances; and
- Borrowing from one lender to pay another.
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Hot News July 2007
New York Legislature Bans Credit Card Universal Default
Thursday, June 28, 2007-Queens Courier
Right before the legislature recessed for the summer, both houses reached an agreement on legislation that would prohibit credit card companies from raising interest rates on a credit card if a customer makes a late payment on a different card.
The bill, which legislators are calling “first in the nation,” would effectively end the practice known as universal default on the 30 million credit cards New York residents currently hold. Nearly half of U.S. banks use universal default, enabling them to increase credit cardholders’ interest rates as high as 40 percent. More...
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