Best Credit Card Offers specially for you

About Us  |  Contact Us  |  Articles  |  News  |  Tips  |   Tools
ADVERTISER DISCLOSURE is an independent, advertising-supported web site which is compensated by the credit card issuers whose offers appear on the site. This compensation may impacts how and where the credit products appear on our site, including, the order in which they may appear within credit product lists. does not review or offer all available credit products.

New card act brings about more clarity with regard to pricing

[Friday, February 25th, 2011]

As per the new rules mandated by the CARD Act, 2009, there seems to be greater transparency with regard to pricing for the customers, as per the study conducted by Center for Responsible Lending or CRL.

There has been a reverse trend of sorts, as the unclear pricing had misled customers for many years where they believed that they would pay less on their credit card debt, which was far from the truth.  Due to the inaccurate pricing, borrowers had taken on much more debt than they would have under normal circumstances.

Clarity in pricing

By the year 2004, there was a huge gap in the stated rate on the credit card solicitations, and what the customers were paying.  The gap widened to unforeseen levels in the year 2004 and continued to remain that way right through 2008.  However, there was a marked difference in the wake of the reform and the slated prices on the credit card solicitations moved much closer to the actual prices.

As per the results of the study, since the implementation of the CARD Act the actual pricing has continued to remain stable, and the available credit limit has not been tightened beyond the expected levels. There is competition due to the transparency in price and the long term impact of this would be lowered costs for the consumers.

The study also concluded that, the direct mail offers are keeping a consistent pace with the prevailing economic conditions.

Read also

The Average Credit Score in the U.S. Reaches Its Peak
[September 13th, 2019]

FICO, or Fair Isaac Corporation, is a data analytics company best known for its credit scoring model. As the FICO’s official website says, the FICO® Score is currently used by 90 of the top 100 largest U.S. lending institutions.

Continue reading ››

New Marriott Bonvoy Bold Credit Card VS Marriott Bonvoy Boundless Credit Card
[June 21st, 2019]

A short time ago, the largest world hotel chain – Marriott International together with Chase Bank have pleased their customers with a new hotel credit card – the Marriott Bonvoy Bold™ Credit Card. Marriott loyal fans are most likely aware that the Bold card is not the first Marriott and Chase joint credit card. Their first co-branded card is the Marriott Bonvoy Boundless™

Continue reading ››

New Apple Card Coming Soon
[April 3rd, 2019]

There is already a Barclaycard Visa with Apple Rewards credit card, Apple Cash card, and recently Apple announced a new card – Apple Card. It is an innovative credit card that will be available in the U.S. this summer.

Continue reading ››
Copyright © 2003-2019 All Rights Reserved strives to keep credit card information up to date and accurate. However, all the credit card information is presented without warranty and can be changed by the credit card issuers at any time. Click the "Apply online" button to see the online credit card application and to review current credit card terms and conditions. Note that can be compensated by credit card issuers when the visitors apply for a credit card through the website.
* The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners.
Information in these articles is brought to you by Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.
Disclosure: Not an access card.