{"id":840,"date":"2009-05-21T16:50:08","date_gmt":"2009-05-21T16:50:08","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=840"},"modified":"2009-05-21T16:50:08","modified_gmt":"2009-05-21T16:50:08","slug":"the_credit_card_bill","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=840","title":{"rendered":"The Credit Card Bill"},"content":{"rendered":"<p>This is the link to the information on the new credit card bill at <a href=\"http:\/\/thomas.loc.gov\/cgi-bin\/bdquery\/D?d111:1:.\/temp\/~bd4WeC:@@@L&amp;summ2=m&amp;|\/bss\/111search.html|\">Thomas.gov<\/a>.&nbsp; It spells out the changes that are being made to help&nbsp;people with credit card debt.&nbsp; You can read the bill for yourself.&nbsp; There are a few things here that I think are positive:<\/p>\n<p>1.&nbsp; The 45-day notice on interest rate changes.<\/p>\n<p>2.&nbsp; Prohibits a creditor from opening a <b>credit<\/b> <b>card<\/b> account for any college student who: (1) has no verifiable annual gross income; or (2) already maintains a <b>credit<\/b> <b>card<\/b> account with that creditor, or any affiliate.<\/p>\n<p>This is a mixed blessing.&nbsp; My kids used credit cards in college when they had no verifiable income.&nbsp; A better idea might have been to cap the credit level of a college student at a very low level, and I believe there is something similar to that in the bill.<\/p>\n<p>3.&nbsp; Prohibits extensions of <b>credit<\/b> to consumers under age 18, unless they are emancipated under state law, or the consumer&#8217;s parent or legal guardian is designated as the primary account holder.<\/p>\n<p>The above three aspects of the bill are good ideas.&nbsp; The question comes on how they will be implemented.&nbsp; It will also be interesting to see what the credit card companies do to make up for the income they will lose by not being able to raise interest rates on a moment&#8217;s notice.&nbsp; The&nbsp;Congress has done what it can to make credit cards&nbsp;more consumer-friendly, let&#8217;s see what the credit card companies do in response.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the link to the information on the new credit card bill at Thomas.gov.&nbsp; It spells out the changes that are being made to help&nbsp;people with credit card debt.&nbsp; You can read the bill for yourself.&nbsp; There are a &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=840\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-840","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=840"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/840\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}