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Credit Card Reform
Nov 19, 2008
Focus: Corporate Responsibility
Action Request: Write E-Mail
Location: United States
In this economy, we don't need the big financial institutions looking to our credit cards to make up for their losses. But right now the credit card companies hold all the "cards," and they can hike interest rates on our balances or charge us higher fees for no reason whatsoever.

The Senate may vote on a bill that will rein in these abuses. The House has already passed its bill, so real reform is within reach. I just sent my Senators an email in support of this bill. Would you take a moment to do the same?

Among other things, the bill would prohibit credit card companies from arbitrarily hiking interest rates on your card balances, and stop 'bait and switch' clauses that let them charge fees and change interest rates for any reason whatsoever.

The bill will help level the playing field for consumers and help ensure that a deal is a deal when it comes to your credit card company. The more consumers the Senate hears from, the better chance we have at putting Main Street, not just Wall Street, first.

You can take action at: http://www.creditcardreform.org

Thank you!

A hand up, not a hand-out

As Washington struggles with the economic mess, there’s one common-sense financial reform they can do for you right now -- stop companies from squeezing your credit cards for extra cash./>


These reforms won’t cost the Treasury or taxpayers one cent. Rather, they’ll stop the card companies from costing you more money. The House passed these reforms; tell the Senate to do the same now so we can keep our cash to survive in this economy/>.

Stop card companies from randomly hiking the interest rate on your balances for no reason whatsoever
Require them to more fairly distribute your payments to high-interest debt first
Stop them from changing the terms of your agreement until your card expires
Stop heavy marketing of credit to college students
These reforms aren’t a hand-out. They simply make sure you get the credit deal you signed up for, and close loopholes that let the big banks get more of your money.

Tell your Senators to pass this bill now. You shouldn’t pay higher interest rates and fees because the banks need a way out of this financial crisis.
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Posted: Nov 19, 2008 2:21pm

 
 
 
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Ruth L.
female , married, 3 children
Guymon, OK, USA
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