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Issue Brief
Curing Credit Card Penalties
Congress is set to enact new legislation that will make credit cards safer and more fair for consumers. As lawmakers negotiate final details before President Obama can sign the bill, new analysis from the Pew Health Group highlights the importance of a safeguard found only in the Senate’s version of the law.
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"Direct mail offers are flowing for business credit cards, many with attractive promotional interest rates and balance transfer deals...while there are many reasons to open an account, there can be substantial risks involved."
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This fact sheet focuses on the lessons learned from consumers who purchase and use prepaid debit cards.
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"Something is wrong when keeping cash in the kitchen cookie jar seems a reasonable substitute for your bank.''
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"It was early 2007, and Michael Roster and Dwane Krumme each viewed the credit card industry with growing dismay."
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''More small companies—already struggling with weak sales and tight lending—are being forced to rely on business credit cards to provide working capital.''
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