Important Information about Credit Card Debt for Everyone During Tough Financial Times
With the price of gas as high as it is and the rising costs of food, it is important for those using credit cards to start watching fees and interest rates carefully.
A good article to review is “Drowning in Debt: Deceptive Credit Card Practices” from CNN. The following is a short snippet from the article. You can follow the link at the bottom of the page to review the rest of the article.
“If you are having problems call customer service. ‘There is so much spotlight on this industry right now [credit card companies] are being a lot more careful about negative publicity,’ Arnold said, referring to the practices lawmarkers like Sen. Christopher Dodd, D-Conn., dub unfair and deceptive. ‘Use the publicity as leverage.’
“Many card companies are willing to lower your interest rate, raise your limit or waive a fee as a one-time courtesy if you ask nicely.
“‘We strongly encourage our customers to engage with us directly’ said a representative from CitiCards. ‘Particularly if they have questions about their card, payments or credit limit.'”
Source: CNN.com – http://money.cnn.com/2008/05/23/pf/credit_debt/index.htm?cnn=yes