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More credit card changes
Posted: 08.22.2010 at 9:44 PM Updated: 08.23.2010 at 6:10 AM
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Final phase of credit card act goes into effect Sunday
ALBANY, GA. -- The last batch of consumer protection rules went into effect Sunday August 22, 2010.
The rules include four main areas that include the following changes:
- $25 maximum late fee
- Ban on inactivity fees
- If a shopper exceeds their credit limit the fine cannot exceed the excess amount
- If an interest rate is increased it must be reviewed every six months
For more information on the changesĀ Click Here.