Credit Card Reform Bills! Sign Here!

[AmyDeLune]

Anyone who read LaraMN's post yesterday http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=105&topic_id=4404599&mesg_id=4404599 will, I think, be interested in sending this little letter to your reps.

http://www.creditcardreform.org

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I urge you to vote in favor of legislation that would ban abusive credit card practices and empower consumers to manage their finances and reduce debt burdens. Bills like S. 499 (the "Credit Card Accountability, Responsibility, and Disclosure Act") and H.R. 3492 (the "Consumer Credit Card Protection Act") go a long way toward this goal and I urge you to support them.

Please fight for these kinds of consumer protections for credit cards:

* Require that each bill give consumers special information about paying just the minimum payment, such as how long it would take to repay the balance and how much it would cost;
* Prevent late fees if the bill is postmarked on time;
* Ban retroactive interest rates - changes that apply a higher interest rate to prior charges;
* Ban finance charges or extra fees for on-time payment and for payment in full;
* Ban "universal default," which can raise the interest rate on all debts even when a consumer only makes one late payment on one debt;
* Improve disclosures related to artificially low "teaser" rates, and
* Prohibit over-limit fees if the card issuer has pre-approved the charge.

It's time to bring some fairness for consumers into the credit card marketplace. Please pass credit card reforms, such as those contained in S. 499 and H.R. 3492, to protect consumers.
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[Wilms]

1. Quite Recommended n/t

[AmyDeLune]

2. Thank You! n/t :-)

[AmyDeLune]

3. *crickets chirping* n/t

[laylah]

4. Done!

Thanks for the link! Recommended.

Jenn