How the New Credit Card Bill Will Affect Young Spenders by Higher education student loan corporation

Sat, 04 Jul 2009 06:03:33 +0300

How the New Credit Card Bill Will Affect Young Spenders

by Higher education student loan corporation @ Sat, 04 Jul 2009 06:03:33 +0300
At age 18, Americans become eligible to vote, enter the military, serve on a jury, and marry without parental consent, in most states. But starting in February 2010, there will be one allowance fewer with that milestone: a credit card. On May 22, President Obama signed into law the Credit CARD Act of 2009, a bill that restricts credit card issuers from raising interest rates without warning, penalizing customers who pay on time, and levying excessive fees. There’s also a provision that specifica