And So It Goes

The 100 dollar mark looms oh so close. There will soon be a payment mailed (or submitted electronically) to lower credit card debt. This is great news for those try to find solutions for their credit card debt. A simple change in lifestyle has now freed up over $1,000 to first eliminate the debt and then have that money to build for the future. Some more good news:

The "Credit Card Holders' Bill of Rights" cleared the House of Representatives yesterday (May 2, 2009) and it now heads to the Senate for approval. One of the key elements of this bill (information here) is that it will be illegal for credit card companies to engage in retroactive rate increases. These are rate increases that are announced at the end of the billing cycle, but applied to the billing cycle for which you just received a bill. It would be like having dinner at a restaurant. You went there for a $4.95 dinner special, but when the bill came they told you that they are changing the price to $6.95 and it took effect when you ordered your food. Would you be angry? Would you ask to speak with the manager?

Probably so.

Too often these things have been happening to consumers and we have been powerless against the money and power of the credit card companies. But change is in the air, but we cannot be too reliant on others to do things for us, we have to take matters into our own hands, particularly if we are to eliminate credit card debt from our lives. You have the power to be in control.

Take action today!