Loopholes of the Credit Card to be Aware of

Since the Credit Card Accountability, Responsibility and Disclosure Act, or CARD, Act has come into force in 2009 in the US, credit card users have received much more protection. For example, it is now illegal for banks to retroactively charge interest rates or to charge fees for users overstepping their credit limit. However, the CARD Act 2009 does not apply in all situations and users of credit cards need to be aware of ongoing pitfalls. In other countries the law applying to credit cards may have similar loopholes and customers are therefore advised to thoroughly check the terms and conditions applying to their credit cards.

The CARD Act 2009 and business credit cards

Despite its… Read More..

Credit Scores

When using credit cards or other types of credit, people rarely take time to think about their credit score and how it may be affected by how they treat their credit. It’s no secret that you have to treat credit with respect and not just as easy money, and keeping track of your credit score and your credit history is a way to show that same respect. Plus, having a good credit score will make it easier for you to get credit to buy a house or a car, for example. Credit companies and banks keep track of how you deal with credit. If you repay your credit debts in time you’ll get positive scores, the opposite if, of course, you fail to make your payments.… Read More..