Low Credit Score Credit Cards – Visa and Mastercard Will Not See an Interest Rate Max Set by Government
Posted on | May 21, 2010 | Comments Off
Low credit score credit cards have been very popular over the last several months as Americans have seen a drop in their overall credit score. Today we learn that Visa and MasterCard will not see an interest rate maximum set by the federal government. There were amendments that were attempting to set aceiling on the interest-rate of a credit card with a Visa or MasterCard logo.
With Visa and MasterCard avoiding the sealing their stock price increased drastically yesterday. It will be interesting to see how the financial reform bill ends up affecting most credit card companies. There is very little doubt that credit card companies are going to see great changes with the financial reform bill.
With that in mind borrowers may want to wait to search for credit card until all these laws and rules are in effect. After the credit card protection act was signed many Americans had the opportunity to better understand their rights and select a credit card that worked for them.
It might be the same case with the current financial regulatory reform act. We will have to get this information and digested before totally understanding how American consumers will save from the changes that are going to take place over the next several months and years.
Author: Alan Lake
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