The new credit card act coming down fast

[AMISLANDER]

I get one paper bill (don't know why, I've set it up for online only) from juniper/racetrack who I've been with for over a year.

My balance is under $300, my limit is $3K.

$39.95 if my payment is late & the ability to jack my interest to 30% plus hit the highest APR coming through the wall street journal.

I'm not surprised...watch it all come tumbling down....


...everyone rebuilding will be doing it on high APR, make sure it's worth it to you...

[frogger]

I'm not surprised...watch it all come tumbling down....

The rich don't need them.

The poor can't pay them.

Those in-between are just going to get the shaft.

The next few years are going to be very interesting.......

[CCsAreEvil]

I will admit I have not read much into it but just know it's coming. Is it a rather complicated bill? If possible, what are the major highlights which will affect us consumers? Or we really don't know what the creditors have up their sleeves to (always) maximize their pockets (them finding loopholes in the new CC act)?

The only thing I've heard is that they will have some form of ability to actually verify/validate your income. Also, instead of "household" income (which was somewhat of a loophole IMO), they now want your personal income. Before, my wife could open a CC with no job but put my income down as the household.