Posted on August 21st, 2008 by Sonya Smith-Valentine, Valentine Legal Group
The Federal Reserve and Congress are both working on tightening the rules on credit card companies. Stricter regulation will probably be approved by the end of the year. Some of the rules being considered by the Federal Reserve include: (1) specifying when credit card companies can raise interest rates on existing balances, (2) prohibiting late […]
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Filed under: Credit Cards
Posted on July 31st, 2008 by Sonya Smith-Valentine, Valentine Legal Group
In Post #1, I talked about steps to take in trying to resolve problems with your credit card company. One step is complaining to the federal agency that oversees your credit card issuer. In this post, I’m giving you the contact information for the Office of Thrift Supervision (OTS). OTS oversees federal savings and loan […]
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Filed under: Credit Cards
Posted on July 13th, 2008 by Sonya Smith-Valentine, Valentine Legal Group
If you are having a dispute with your credit card company, try and resolve it with the credit card company first. If that doesn’t work, you probably want to file a complaint with the federal agency responsible for enforcing consumer credit law for your credit card company. The agency responsible varies based on the type […]
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Filed under: Credit Cards
Posted on May 5th, 2008 by Sonya Smith-Valentine, Valentine Legal Group
Many companies that solicit new credit card accounts use prescreening to identify potential customers. Prescreened offers are based upon information in your credit report that indicates you meet the criteria set by the credit card company. There will be inquiries on your credit report showing which companies obtained your information for prescreened offers but these […]
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Filed under: Credit Cards, Credit Reports
Posted on April 25th, 2008 by Sonya Smith-Valentine, Valentine Legal Group
The scam: You’ve been told that you’ve been “pre-qualified” to get a low interest loan or credit card but the company needs you to pay a processing fee of several hundred dollars. The truth: Legitimate lenders never “guarantee” a credit card or loan before you apply. A legitimate pre-qualified offer means that you’ve been selected […]
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Filed under: Credit Cards
Posted on March 21st, 2008 by Sonya Smith-Valentine, Valentine Legal Group
Shopping around for a credit card can save you money on interest and fees. You’ll want to find a credit card with features that matches your needs. In choosing a credit card, you should think about how you will use the card. If you expect to pay your bill in full each month, your best choice […]
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Filed under: Credit Cards