Please Tell Me Why?!!!!
Date: Mon, 02/08/2010 - 10:01
Just got a letter from my Lowes card. Card had a balance of 3400 to start with I have paid over 1400 off in last 5 months. Letter stated that due to the recent change in credit card laws beginning Feb. 1st they would no longer honor no payments or interest programs before this date. Then added 845.00 interest fees to my account. WTH!!!! This is robbery and this is not the only one of my accounts this has been done too. Thought the new laws were supposed to help stop this LOL.
Well, no doubt the purpose of the new law is to help customers d
Well, no doubt the purpose of the new law is to help customers dealing with their credit card issuers but it has many drawbacks too. The credit card companies are taking advantage of these weak points of this new law to rip-off consumers.
I have read this following article in the debtcc blog. You can check it out too for more information on the new credit card laws.
http://www.debtconsolidationcare.com/blog/2009/11/07/credit-card-reform-act/
yeah, i have heard of this happening, it is a shame.
yeah, i have heard of this happening, it is a shame.
