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The Fair Credit and Charge Card Disclosure Act (abbreviated as the FCCCDA) is an American consumer protection law that requires credit card companies and loan agencies to disclose any "fine print" about a loan or line of credit to the consumer. [1] This includes information about variable interest rates and fees. The FCCCDA was passed in 1988.
One of the financial side effects of the coronavirus pandemic was a good one: a drop in credit card debt. Americans went out less and spent less, and government assistance was effective enough that...
The Consumer Financial Protection Bureau in its October 2013 report on the CARD Act found that between the first quarter of 2009 and December 2012, credit card interest rates increased on average from 16.2% to 18.5%, while the “total cost of credit,” that is, the total of all fees and interest paid by all consumers as a percentage of the ...
Bankrate advises people with credit card debt to look for options and use what they find to try to negotiate a reduced rate from their current credit card provider(s). On May 25, 2023, Bankrate reported some companies offer "a 0 percent intro APR for 21 months from account opening on purchases and qualifying balance transfers, (18.24%, 24.74% ...
Credit card issuers and networks perform two distinct roles, though both can be considered credit card companies. Credit card issuers are responsible for card details, rates, fees and perks.
Credit card surcharges are applied when you use your credit card to make a payment. In states where surcharges are legal, they must be clearly displayed at the point of sale and on your receipt.
AnnualCreditReport.com is a website jointly operated by the three major U.S. credit reporting agencies, Equifax, Experian, and TransUnion.The site was created in order to comply with their obligations under the Fair and Accurate Credit Transactions Act (FACTA) [1] to provide a mechanism for American consumers to receive up to three free credit reports per year.
A 0% intro APR credit card can be a useful way to pay for large purchases or consolidate high-interest credit card debt, acting like a no-interest short-term loan if used responsibly. And it ...