Comments on: Credit Card Companies Tell the Truth?

By: Finance Sites No Credit Card Needed

Finance Sites No Credit Card Needed — Thu, 26 Jun 2008 15:47:29 +0000

[...] to be from my credit card company and he needed to talk to me. He gave a number to call him back.Credit Card Companies Tell the Truth? : Money Smart LifePersonal Finance and Investing Blog Blog Archive The 88th Edition Of The Carnival Of Debt Reduction [...]

By: Holy Moly Now These Are Some Carnivals! | My Two Dollars

Holy Moly Now These Are Some Carnivals! | My Two Dollars — Tue, 22 May 2007 00:48:02 +0000

[...] Money Smart Life talks about credit card companies being a little more up front with consumers. [...]

By: Personal Finance and Investing Blog » Blog Archive » The 88th Edition Of The Carnival Of Debt Reduction Hosted By No Credit Needed

Mon, 21 May 2007 13:06:38 +0000

[...] Money Smart Life with an interesting post about credit card companies… and their honesty! Wowsers! At first I thought, “No WAY!” but, then I read the article, and MSL is correct! [...]

By: No Credit Needed » Blog Archive » The 88th Edition Of The Carnival Of Debt Reduction Hosted By No Credit Needed

Mon, 21 May 2007 12:58:58 +0000

[...] Money Smart Life with an interesting post about credit card companies… and their honesty! Wowsers! At first I thought, “No WAY!” but, then I read the article, and MSL is correct! [...]

By: Ben

Ben — Sat, 19 May 2007 14:42:46 +0000

Good idea Kristine. It does get hard to keep track of the cycle lengths across multiple credit cards. It would be nice to have a standard, how about 60 days, another month of free money

By: Kristine

Kristine — Fri, 18 May 2007 16:27:14 +0000

Great post, Ben!

One other policy that should be reformed is the billing cycle. It seems to be getting shorter and shorter, with the result being more late payments (and thus more late payment fees).

CC companies should be forced to do a better job educating consumers about the length of the billing cycle and it would be nice to see a uniform billing cycle, instead of 20 days for one cc, 30 days for another.

By: Ben

Ben — Thu, 17 May 2007 04:58:40 +0000

How about this reform? Late fees should be a percentage of your balance, not a fixed amount. This way someone isn’t charged $35 for being late paying off a $20 balance. The fee could be capped at current fee levels to prevent those with high balances from getting slammed with huge fees.

By: Credit Card Criticizer

Credit Card Criticizer — Thu, 17 May 2007 04:29:08 +0000

I don't really know about whether all the banks do the same, or there are reliable companies. I personally hold Chase Perfect Card and once there was a late payment due to some late money posting, but I explained the problem to them and paid nothing more than usual interest.

By: Q at $1 Million to My Name

Q at $1 Million to My Name — Wed, 16 May 2007 22:05:29 +0000

32% would seem to be in violation of every usury law out there. I am shocked they can get away with this.