The rules your credit card company operates by will start getting much clearer on Thursday. But just because you'll know what they're up to doesn't mean you're going to like what you learn.
Card companies have been gearing up for the new landscape for months, mailing consumers a spate of warnings about fee and interest rate changes. If the notices already sent are any indication, consumers may not be happy about much of the new information they receive.
Citi, for example, is in the process of informing some cardholders that it will institute an annual fee, about $30, on certain accounts.
And while overlimit fees are gone, Amex changed its fees for making late payments to $19 for balances under $250, and $39 for balances over that line. The prior fees were $19 for balances under $400, and $38 for balances over $400.
Big Bad Credit Card companies are exploiting public! They are even going around Dear Leader Obama's rules to hurt consumers.
American public deserves FAIR and ACCESSIBLE CREDIT for every American!
We need a SINGLE CREDITOR public option in consumer credit.
Government must take over credit card business.
Dear leader is doing it for student loans.
Dear leader is trying hard to do it for heath care.
Why not for consumer credit?
Government owned and managed single creditor public option will provide public with fair and affordable credit without predatory practices of big bad credit card companies.
It is Time For "Single Creditor" Public Option!