Credit Card Reform

If you're like me, you probably noticed a little extra money in your recent paycheck, a result of the stimulus plan to get consumers gradually spending again and get our economy back on track. But if you're like many Americans, your credit card company just jacked up the interest rate on your card balance, or added new fees, even though you made your payment on time. So much for the stimulus -- much of it will go to pay these new card fees!  My Capital One card raised its rate almost 7%.

Abusive credit card tactics, such as hiking interest rates on your card balances, were declared unfair by federal regulators. But new protections don't go into effect for until July 2010. Our wallets, and our country's economic future, simply can't wait that long!

Bills in Congress would put the credit card reforms in place sooner, but they're not moving. Join me in telling the President to make these reforms a top priority. Tell the President to make this a part of his economic plan to help real Americans with their family budgets -- it's an economic rescue that won't cost taxpayers a cent!

Take action with Consumers Union's CreditCardReform.org campaign at: http://cu.convio.net/stimulus

Thank you!