http://www.bloggingawaydebt.com/2009/12/great-news-for-credit-card-borrowers%e2%80%a6/ Our Journey to a Debt-Free Life Thu, 29 Jul 2010 16:18:17 -0700 http://wordpress.org/?v=2.8.4 hourly 1 http://www.bloggingawaydebt.com/2009/12/great-news-for-credit-card-borrowers%e2%80%a6/comment-page-1/#comment-949334 Kevin Fri, 22 Jan 2010 20:21:44 +0000 http://www.bloggingawaydebt.com/?p=3078#comment-949334 The credit card companies had what seems like nearly a year to prepare for CCARDA. They've raised rates, lowered credit limits, expanded access to minors and increased fees. All in anticipation of regulation controlling this behavior. Eventually, thought, there will be some meat behind CCARDA, years down the road these tactics will not be relevant because they'll be phased out as consumers eventually pay down their balances. At least, that's what most journalists and bloggers assumed. CCARDA expires one year after it begins. Useless. The credit card companies had what seems like nearly a year to prepare for CCARDA. They’ve raised rates, lowered credit limits, expanded access to minors and increased fees. All in anticipation of regulation controlling this behavior. Eventually, thought, there will be some meat behind CCARDA, years down the road these tactics will not be relevant because they’ll be phased out as consumers eventually pay down their balances. At least, that’s what most journalists and bloggers assumed. CCARDA expires one year after it begins. Useless.

]]> http://www.bloggingawaydebt.com/2009/12/great-news-for-credit-card-borrowers%e2%80%a6/comment-page-1/#comment-938527 Edwin Wed, 23 Dec 2009 01:33:33 +0000 http://www.bloggingawaydebt.com/?p=3078#comment-938527 I got one of these letters from BoA and found it rather amusing. What came to mind was a manager begrudgingly writing up the letter hatefully counting his lost profits. I got one of these letters from BoA and found it rather amusing. What came to mind was a manager begrudgingly writing up the letter hatefully counting his lost profits.

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