Friday, August 21, 2009

Be Sure to Check your Credit Card Disclosures

Now, more than ever, you must be sure to review all mailings you receive from banks, credit card companies and other financial institutions. As you may be aware, the Obama Administration has passed new laws in an attempt to put a curb on credit card abuse.

As these new rules have not yet gone into effect, banks will be doing all that they can to gouge you now, while they still can. As such, you can expect to see annual fees being added, rates increased and other ways for them to get your money. Don't forget, even though Fed Chairman, Ben Bernanke, announced today that the recession has bottomed and we are on our way out of it, there can only be a true recovery with an improved banking picture. They lost billions and billions and need to recoup this money somehow. (That means from YOU!!!).

Should you have questions about your disclosure materials and how you should respond, feel free to contact me or comment on this blog. Reviewing such material is a service that I offer, free of charge, for my clients.

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