Student Credit Card and Credit Education Blog

There are two things I want you to do next time you speak with your credit card company.

1) Ask them if they apply your payments to the lowest interest portion of your balance first, and

2) Ask them if they raise your interest rate on outstanding balances.

Under the Credit Card Accountability, Responsibility, and Disclosure Act passed in May banks are no longer able to get away with this.   The Act is supposed to be officially in place by February but consumer complaints may expedite the full enforcement of the Act by December 1.