A new credit card law will be in effect on Feb. 22, 2010. But according to a special report I just read, the credit card companies have found a way around the law. Now, the reason why I am posting this is not to put all the employees working for credit card companies out of a job. No, indeed, my concern is for anyone who carries a credit card balance. I want everyone to be aware of ways to manage their credit card debt. I am learning and trying to learn more.
I actually know people who DO NOT USE A CREDIT CARD. I do not know how they do it but -How cool! (Cool is a baby boomer word)
So here is the article on ways that the credit card companies are working around the new law meant to protect us consumers.
2 thoughts on “Some Sneaky Ways Credit Card Companies Are Reinventing Fees”
Good article. I’m not concerned as I’m one of those boomers who doesn’t use a credit card! 🙂 It’s easier than you think, actually, but does take a shift in outlook (and perhaps an avoidance of what banks and the media try to tell you). You should listen to Dave Ramsey, Rosie, if you’d like to learn more. While I began this lifestyle due to a divorce, Dave really helped me gain a perspective about the entire credit industry and debt that really was inspiring! He has helped many people get out of debt and pay for most things with cash. In fact, he says the ONLY thing we should buy on credit is our house.
This new site has everything for the generation over 50–articles about arts & entertainment, financial advice, retirement advice, health tips, and so much more…it’s a community where we can share and enjoy!
(The Other Side of 50)
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