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Posted by Credit-Card Holder on November 8, 2009, 11:04 am
75.213.3.3
WHY IS THERE AN INCREASE ON THE CREDIT CARDS.?
Because President Obama singed into the law the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. When this goes into effect on July 1, 2010, banks will be more tightly regulated in how they raise interest rates and other changes. So, because of that, Now the Credit Card Company have raised the interest rate before the ruling and the law gets into effect. Why does President Obama has to get into Credit Card regulation.? No need to, if I don't like the increase in rates, just don't go into Credit. Simple as that.! I think that it does not effect businesses because they make full payments monthly and it does not effect millions of Mexicans because they always carry cash on their pockets. It only effects the middle class people, the ones they are trying to make it in life.
So, what do you think about this increase in Credit Cards Rates.?
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