Category Archives: Credit Card Debt
Credit Card Balance Transfers Not Always the Best Solution, Caution Chicago Bankruptcy Lawyers
Imagine that you’ve got a $1,500 debt leftover from the holidays (not that big a stretch for some of us, no?). Now imagine that you receive an offer for an 18% interest rate if you transfer your balance from your current card – which has a 30% rate. Should you go for it? It might… Read More »
Banks Start Charging Fees for Paper Credit Statements
Despite recent credit card reform, credit card companies aren’t giving up all their tricks. If you’re anything like most Americans, you’ve probably been receiving a glut of mail from credit issuers in recent months – most of it notifying you of rather big term changes like higher interest and steeper penalties for exceeding your credit… Read More »
Credit Card Interest Rates Hit New Highs
Credit card companies are up to their old tricks. With the last of new credit card laws scheduled to go into effect this February, banks are doing just as predicted – finding new ways to charge credit customers. On the bright side, the legislation is already helping consumers in a few key areas. You may… Read More »
Minimum Payment Can Cause Maximum Debt
New consumer protection laws might mean creditors have to give up charging sneaky hidden fees, but unfortunately it doesn’t protect against another one of their tricks – the minimum payment. When most folks pay their credit card bills, they pay the minimum due – usually set at between 2 and 4 percent of the balance…. Read More »
Read Your Credit Card Junk Mail Before You Toss It
If you’re in the habit of tossing mail from credit card companies before opening the envelopes, you might want to rethink your strategy. With creditors in the process of making changes to counteract stricter regulation, it’s likely that some of those envelopes you assume are just advertisements or routine legal notices are actually important updates… Read More »