Beat the Credit Card Companies (and Banks) at Their Own Game

Have you ever been burned by your credit card company or bank? Have you ever had $$$ stolen in unfair bounce fees from debit card purchases? If so, keep reading.

HR 946 is a new law that we need to get passed. From Mary Hunt's blog entry, it will address the following concerns:

1. Arbitrary interest rate hikes on existing balances
2. Applying your monthly payment to low-interest debt first
3. Reducing the time between the bill and the due date
4. Charging interest on debts paid off the previous month
5. That horrible “at any time, for any reason” clause
6. Huge bounce fees

I urge you to use the contact info below and tell them your story. The Center for Responsible Lending has a form letter you can e-mail to your congressional representative, urging a vote for H.R. 946, the Consumer Overdraft Fair Practices Act. If you feel you've been victimized by bank bounce-fee policies, you can tell your story to the Federal Reserve using this form or by e-mailing comments to regs.comments@federalreserve.gov. Be sure to include "Docket No. R-1314" in the subject line and act before Aug. 4, when the Fed's public-comment period ends.

The deadline is August 4th, tell them your story today!