The credit card industry has been running amuck for years now. They have worded their agreements in a way where they can do just about anything they want. Late payment fees, lowering your high credit limit, raising your interest rates have always been easy for these credit card companies to get away with.

FINALLY, the US government has stepped in and passed regulation to prohibit some of these practices. The Bill of Rights eliminates many of the most exploitative practices in the credit card industry.

This new bill ends the “any time, any reason” rate increases these companies have become notorious for. Credit card companies will now be required to give consumers a 45 day notice if their rate is increased. And, if the rate is raised it can only be on new debt during the current billing cycle, not for previous debt put on the card before the rate change. Plus, heft over-the-limit fees have now been eliminated unless the car holder explicitly agrees to this beforehand.

The US government has not imposed restrictions on the credit card industry since 1988. This new regulation is welcomed news from consumers who have been taken advantage of by these companies for decades now. Still, there are many techniques and tricks these companies use to insure consumer’s credit suffers if any late payments are made.

Many of these industry tricks are unethical and illegal. These are the same tactics we spend countless hours on correcting for our clients. We have already dissected the new Bill of Rights and have found more loopholes to help YOU get your negative items permanently deleted from your credit profiles.

Contact us today to learn how you can have the exceptional credit you deserve.