The Credit CARD Act Opens For Business
Starting this week the first phase of the Credit Card Accountability, Responsibility and Disclosure Act (The Credit CARD Act) goes into effect, requiring issuers give card holders 45 days’ notice prior to raising their interest rate or making other material changes to other terms in the card’s agreement. The fresh rule gives borrowers the choice to opt outside of the increased rate and pay the balance off at the former interest rate while making no further buys on that specific card. More information: First Time Home Buyer Programs
