• Home
  • News
    • Politics / Govt
    • Legislature
    • Crime / Courts
    • Health / Medicine
    • Archives
  • Sports
    • Badgers
    • Packers
      • Titletown Report
    • Brewers
  • Contact Us
    • Reporters
  • Affiliates
    • Affiliate Support

Wisconsin Radio Network

Wisconsin News and Sports

You are here: Home / Business / Credit card changes should help consumers

Credit card changes should help consumers

February 22, 2010 By Andrew Beckett

New federal regulations on the credit card industry should make it easier for consumers to understand their debt and help provide some extra protections.

The new rules, which took effect Monday, require companies to give better disclosure about interest rate changes. They also extend the time period for paying your monthly bill and make it harder for anyone under 21 to get a card.

However, Wisconsin Better Business Bureau President Ran Hoth says credit card companies have been making many changes in the months leading up to the regulations taking effect, which may have greatly changed your credit card.

For example, Hoth says those who make everyday purchases with a credit card to build up bonus points and frequent flyer miles, and then pay off the balance each month to avoid interest charges may no longer be able to do that. He says many companies have eliminated grace periods and are now charging interest right away.

Hoth says consumers need to read the fine print on the terms and conditions of their credit cards. The federal law allows card holders to protest changes. If you want to cancel the card, Hoth says you should have the option of paying off the balance under your old interest rate agreement.

AUDIO: Andrew Beckett reports (1:14)

creditva022210

Share this:

  • Facebook
  • Twitter

Filed Under: Business



Featured Stories

Future of abortion in Wisconsin hinges on SCOTUS ‘Roe’ decision

Juvenile arrested in connection with death of Lily Peters

Missing Chippewa Falls girl found dead, police seek suspect

Medical marijuana legislation gets public hearing at Capitol

Tommy Thompson announces he will not run for governor

TwitterFacebook

Sports Headlines

Giannis breaks franchise scoring record, Bucks beat Nets in OT

Wisconsin’s Davis declares for NBA Draft

Badgers to face Arizona State in Las Vegas Bowl

Williams likely out for the season with broken hand

Packers releasing TE Jace Sternberger

More Sports

Tweets by @WRN

Get our news delivered to your inbox:

Enter your email address:

Delivered by FeedBurner

Copyright © 2022 · Learfield News & Ag, LLC