New Credit Card Legislation Expected To Have "Dramatic Effect"

The CFO of Capital One Financial Corp. was recently quoted as saying, that "new credit card legislation is expected to have a dramatic impact on the national lending landscape."

Sweeping changes meant to protect debt-ridden consumers from surprise credit card fees and charges could cause quite a few unintended changes to other credit card holders.  As we mentioned yesterday, some of these changes could include reintroducing annual fees, increasing other fees, and reducing or eliminating popular cash-back or rewards programs.

Nearly 80 million Americans have credit cards and over 1/2 of those carry a balance, so these changes will certainly impact a great many households.

Really, the only way to avoid being caught in this financial game of cat and mouse is to pay off your credit card debt as quickly as possible.  That way you're beholden to no one and you're not subject to any fees, questionable rate changes, or other games credit card companies play.

To learn more about the Money Merge Account® system, which is a tool created to help every single person with any kind of debt to pay off their debt as quickly as possible, simply visit The Money Merge Account link above.