Obama Credit Card Debt Relief – Credit CARD Act Saves Consumers
Posted on | February 24, 2010 | 1 Comment
The Obama credit card debt relief program was designed to help consumers get out of debt much quicker. The credit CARD act became law on Monday, February 22 and should help many Americans to take the necessary steps to get out of debt as soon as possible.
Pres. Obama realizes that many Americans are drowning in credit card debt which is hurting the overall economy. By buying on credit you could be digging yourself a hole that is almost impossible to get out of. Many Americans who pay the minimum monthly payments on their credit cards may never get out of debt.
The credit CARD act is going to change the way that people look at their credit card bills. Your credit card bill will now show you how many months it will take you to pay off your credit card if you continue to make the minimum monthly payment. Sadly, some Americans are going to find that this could take 30 or 40 years.
It will also be the case that credit card bills will show you how long it will take to pay off your credit card if you make a certain payment each and every month. This should greatly assist consumers when it comes to getting out of debt today.
Author: Tiffany Mann
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One Response to “Obama Credit Card Debt Relief – Credit CARD Act Saves Consumers”
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February 24th, 2010 @ 1:54 pm
Bull, That act that he signed made my
credit cards worse. My interest rate went
up by 3 and my min payment went up by 30 dollars. Yeah for President Obama!!! (not)