By Jonae Fredericks
Regardless of a customer's past relationship with her credit card company, there is still the possibility for default sometime in the future. Credit card customers may see as much as a doubling of their interest rates as banks begin to tighten their lending practices in lieu of the financial crisis. The effect that these decisions will have on credit card holders can be disastrous. Some individuals ...
By Beth Fontaine
Before choosing a credit card counseling company, debt management program or debt consolidation company, learn everything you can. Contact your state's Attorney General office, your local consumer protection agency and the Better Business Bureau. Find out from the AG's office whether these agencies are required to be licensed in your state, then determine if they are. Stay away from ...
By Chad Hagy
Usually, this is done in an ethical way, as the credit card company just wants its money back. However, there are some credit card companies that are unethical and will use whatever scare tactics they can. Unless you are actually getting sued for wage garnishments, false threats to garnish your wages are against the law. More often then not, simply threatening that the company will file ...
By PokerPlayingDad
If you cannot find the company's name in this manner, make a post on the message board asking for any feedback other members of the message board have regarding that company. Locate a physical address for the company you are researching on their website. Note the state that this company is located in. Call the Better Business Bureau and the Department of Commerce for that state ...
By Stephanie Mojica
There are several types of credit card companies, which are often divisions within a bank or group of banks. Some lenders specialize in working with bad credit, while others strictly lend to customers of one or more retail stores. Other credit card companies deal with only those who have excellent credit scores, while others cater to students or those with no credit at all. Many credit card...
By Laura Rupert Garcia
Credit card companies are lowering limits on many customers. This includes quite a few customers who have fairly high credit limits. The trend of tightening credit will likely continue for the foreseeable future. More and more credit card holders will see their credit limits shrink and their interest rates will go up. The years of easy credit resulted in credit card companies being strapped for...
By Robert Vaux
If a delinquent credit-card account is not addressed, the company may eventually sue the cardholder for payment on the debt. A judge has the ability to levy any number of punishments to coerce you to pay, including freezing your bank accounts, garnishing your wages and imposing liens on any financial assets you may possess. There is often little recourse when the law becomes involved, and anything ...
By Paul Bright
If you successfully sue against a company for these violations, they can be fined up to $10,000 plus legal fees. If there is a billing error such as being charged an incorrect amount or being charged for a product you didn't order, the credit card company must work to resolve it within a specific time frame. Credit bureaus have 30 days from receiving notice of your dispute to resolve ...
By Ronni Dee
Typically, the longer the company history, the more reputable the company is. Offering products other than credit cards, such as checking accounts, is also a good sign of a strong foundation. American Express has been in business for more than150 years. As of 2008, it has offered credit cards to consumers for 50 years. The card is now accepted in more than 130 countries around the world. ...
By Stephanie Mojica
Your credit card company can send you letters. A new tactic that many companies are using is to send a handwritten envelope that looks like a card to entice debtors to open the mail. Then inside is a standard letter demanding payment. Once your payment is 30 days late, your credit card company can start reporting your account as in negative standing to the credit bureaus: Equifax, Experian ...