August 21, 2009
The first phase of credit card legislation signed by President Obama on May 22 took effect yesterday, August 20, with the remaining provisions going live February 22, 2010.
MyRatePlan Analysis: We’ve listed 12 key provisions of the new law below, along with implications and exceptions. In general, the new rules chip away or eliminate a wide [...]
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March 8, 2009
Recommendations:
Get a 0% APR balance transfer credit card
Transfer high interest balances
Don’t use this new card for other purchases
Annual Savings Potential: Depends on balance– could be $1,000 or more
Discussion According to New York Newsday, credit card interest payments were $116 billion in 2007, with another $23 billion in fees. If you have reasonably good credit, your [...]
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