New Credit Card Laws 2010 (Video) | Suze Orman Explains The Benefits

42 sec read

The video above is from last year where Suze Orman explained the new credit card laws. She called them “too little, too late” and encouraged people to write their congressmen to speed up the date in which it would take effect.

As it turns out, a lot of people actually did, and the new laws go into effect 5 months ahead of schedule- today!

Unlike Suze, I had hope for these new laws when I first heard about them passing. The average credit card company is expected to cut their profit in half because of this and I’m all for lessening corporate greed. Besides the 4 laws explained in the video some other important laws that go into effect are:

    – Anyone under 21 must have a co-signer to activate a credit card or at least prove financial stability.
    – Interest rates can’t rise within the first year.
    – Credit card companies must notify you 3 weeks in advance before a payment is due.

Finally, the emerging generation has hope for financial security. The average college student graduates with $10,000 in credit card debt today, but this will obviously have a positive effect on that number. This is why I voted for Obama.

Watch Professional Gamer Ninja Reveals He Has Skin Cancer…

“American gamer and Twitch superstar Tyler “Ninja” Blevins revealed he was diagnosed with melanoma, a form of skin cancer. “The 32-year-old, who boasts 19...
JM
14 sec read

Watch Brittany Snow Details Divorce Drama With Ex Tyler…

“Two years after her dramatic split from Selling the OC star Tyler Stanaland, Brittany Snow is opening up about her ex-husband’s seemingly unfaithful behavior...
JM
16 sec read

Watch Dollar Tree to Raise Prices Again in 2024…

“Shoppers at Dollar Tree could soon end up with sticker shock. “In an earnings call held this month, Dollar Tree, Inc. announced it’ll be...
JM
25 sec read