Credit Cards Articles

When the new credit card law goes into effect on February 22, your credit billing statement will include a lot more information than what you’re used to. The new law requires credit card issuers to give certain disclosures about paying your credit card balances.

Minimum Payment Disclosure

Your billing statement must include a minimum payment warning that clearly lets you know that paying the minimum will increase the amount of interest you pay and lengthen the time it takes to pay off your balance.

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You have a stack of bills in front of you and you may not be able to pay them all. Which debts are the most important? Many people make the mistake of paying their credit cards before their other debts. I argue that credit cards fall very low on the list of debt priorities, especially if you have a mortgage and auto loan. Learn why your mortgage should top your list of debt obligations: How to Prioritize Your Debt Payments

Related Debt Management Reading:

• 5 Ways to Consolidate Debt
• Be Real About Your Debt Goals
• Is Clutter Keeping You in Debt?

When it comes to major changes that consumers have seen in recent months, there is no doubt that cardholders have seen plenty. While some changes have been publicized more than others, each has affected the view that many people perceive when it comes to credit cards. One of the changes that seem to be a growing trend among credit card issuers is the annual fee and by the looks of it; we may see annual fees continue to find their way into American’s pocketbooks.

According to research both the implementation and increase of annual fees will continue to be something that cardholders will need to be on the lookout for as we move further into 2010. T

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The No. 1 state in bank failures is making it easier for survivors to deepen their exposure to a single borrower.

Georgia Gov. Sonny Perdue, a Republican, signed into law Thursday a bill that allows banks chartered by the state to exceed current lending limits if a borrower hasn’t fallen behind on payments.

For decades, it was illegal for such banks to pour more than 25% of their total capital into an existing lending relationship secured with collateral or more than 15% to an unsecured borrower.

Some bankers hailed the new law, which cleared both chambers of the Georgia General Assembly by a combined vote of 217-1, as an important step toward stabilizing financial institutions throughout the state.

“If this did not pass, it would deepen the real-estate crisis,” said Keith Caudell , president and chief executive of Bank of Hiawassee, which was started in 1909 and has five branches in northern Georgia.

Supporters also worried that Georgia banks would lose some of their best borrowers unless the limits were loosened.

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