Credit Card Act Has Negative Impact on Consumers

Posted on March 7th, 2011 No Comments

Results are in from the Credit CARD act that was passed in 2009, and they are, overall, negative. It has been found that consumers have actually suffered from the act and are facing financial problems due to credit cards’¬†higher interest rates.

The act was made to help protect credit card users from hidden and unfair practices from credit card companies. It stipulated that rates could not increase in the first year and overlimit fees could not be permitted. Because credit card companies lost revenue by not being able to use these tactics, they increased interest rates and added new fees. People are also finding their credit scores lowered because companies are now cutting credit lines.

If your credit has been compromised for any reason, please contact the Conroe and Spring credit repair lawyers of Garg & Associates, P.C. at 281-362-2865.

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Garg & Associates, PC | 21 Waterway Avenue, Suite 300 | The Woodlands, Texas 77380 Please call 281-362-2865 | Fax: 866-743-4506
Serving The Woodlands, Spring, Houston, Conroe, Kingwood, Tomball, Cypress, Huntsville, Cleveland, Stafford, Montgomery County, Harris County, West Oaks, Memorial, Sugar
Land, River Oaks, Alief, Stafford, Missouri City, and Southwest Houston Texas.