Please use credit wisely this time of year
December 14th, 2005 | by mbhunter |I received this message from Amanda Frayer, assistant web editor of ConsumersUnion.org, the nonprofit publisher of Consumer Reports (eBay):
Here’s a link to a funny animation just out today! It’s about ways the credit card companies suck our wallets dry–with something we can do about it. Everyone should see this one before whipping out the plastic for holiday shopping!
Click on the link below to see the animation:
www.CreditCardReform.orgAfter you watch it, you can take action to stop abusive credit card practices and empower consumers to manage their finances and reduce debt burdens. Please show your support for S. 499 (the “Credit Card Accountability, Responsibility, and Disclosure Act”) and H.R. 3492 (the “Consumer Credit Card Protection Act”). While the nation’s spending is at its holiday peak, I hope you will help us get the word out about www.creditcardreform.org and help us build the support these bills need to move in 2006.
The website also provides a summary of the important aspects of the Credit CARD Act and the Consumer Credit Card Protection Act.
There is strong pressure to spend money on others at this time of year. It’s even stronger for those who like to give gifts. However, if you’re already paying only the minimum balances on your credit cards, you’ll be paying off these gifts for a long time, and they’ll end up costing twice as much or even more!
