video from Fox 4 News- Kansas City
The Credit Cardholders’ Bill of Rights:
Protects cardholders against arbitrary interest rate increases - credit card companies must give cardholders a 45-day notice of any increase. Prevents cardholders who pay on time from being unfairly penalized Protects cardholders from due date gimmicks Shields cardholders from misleading terms Empowers cardholders to set limits on their credit Requires card companies to fairly credit and allocate payments Prohibits card companies from imposing excessive fees on cardholders Prevents card companies from giving subprime credit cards to people who can’t afford them Requires Congress to provide better oversight of the credit card industry Contains NO rate caps, fee setting, or price controls
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