Understanding Nominal vs. Annual Interest Rates Recently, many people noticed the nominal interest rate on their credit card statements. This rate is usually lower than the annual percentage rate (APR) because certain fees must be disclosed. The nominal interest rate is the basic rate on your card. The APR can be higher due to extra […]

https://abcnews.go.com/Business/story?id=7727426&page=1 Miamians Owe More to Credit Card Companies Than Anyone in U.S. By LAUREN SHERMAN Forbes.com June 2, 2009— Americans Still Splurging Despite Debt Warnings Gone are the days when Americans bought a second pair of Italian leather brogues, a flat-screen TV for the bathroom, or a made-to-measure office suit without thinking twice. A new […]

The President signed H.R. 627, known as the Credit CARD Act of 2009, into law. This law created new rules for credit card companies. The goal was simple. Lawmakers wanted to protect consumers from unfair credit card practices. The law also required new guidelines for credit counseling information. Within six months of the law’s passage, […]