Credit Card Bill Approved By House
The House today approved (by a vote of 357-70) a credit card bill that would curb what supporters described as predatory credit card practices and eliminate spikes in credit card interest rates.
If it becomes law, the bill won’t take effect for a year, except for a requirement that customers get 45 days’ notice before their interest rates are increased. That would take effect in 90 days. Among other things, the credit card bill seeks to ban what’s known as “double-cycle billing” as well as retroactive rate hikes. The measure would also require credit card firms to give consumers a 45-day warning before they raise interest rates.
President Obama has indicated that he will be signing the credit card bill.
New Discover Card For Teens
Discover has launched a new prepaid card that was created especially for teens – Current by Discover – Prepaid Card for Teens. It’s the only prepaid card that helps parents monitor spending. Current by Discover helps teens and parents work together to set spending limits and establish responsible spending habits – thus giving teens freedom while helping their parents maintain control.
Escape by Discover Card
Looking for an excellent travel rewards card? The Escape by Discover® Card may be just what you’re seeking. It’s simply the smart way to travel. Here’s a quick synopsis of its features (additional details provided below):
- Unlimited Double Miles on all purchases
- Enhanced travel benefits
- Redeem Miles for travel credits, cash or gift cards
- $60 annual fee
More about the Escape by Discover® Card