| The financial jugglery of the credit card companies | | | | it to the notice of the card holder. If the |
| have become town talk for all the people. It is | | | | consumer is paying its credit card company |
| because these companies are proved not for the | | | | continuously without any delay from previous six |
| benefits of the consumer but only to maximize | | | | months then in such case companies are |
| their own resources by decreasing the resources | | | | prohibited to increase the rates of interest. |
| of the consumer. Their dual behavior regarding | | | | Restrictions have also saved the credit card |
| charging the customers is completely weird. They | | | | holder from paying penalties, late fees and other |
| impose hidden charges and variable interest rates | | | | fine by the companies. The law states that the |
| without any prior notice to their consumers. Their | | | | parents of the young consumers are not |
| charging is unfair and legally not allowed. There is a | | | | accountable for the liabilities of the credit card |
| huge difference in the consumer's own credit | | | | holder if they are of the age of 21 or below it. |
| detail and the company's credit statement that is | | | | Now the card holder can pay by phone, online or |
| sent to the card holder. But the situation is | | | | via e-mail without any further charges imposed on |
| changed and all the tables are turned towards | | | | him by the credit card companies. These |
| these companies. All this is because of the new | | | | companies are now coerced by the new |
| restrictions imposed by the government. These | | | | restrictions. They can not play any tricks on the |
| restrictions are increasing the transparency of | | | | consumer. |
| practices of credit card companies. It ultimately | | | | These restrictions have brought good tidings for |
| becomes beneficial for the consumers. | | | | the credit card holders. Now they are able to get |
| Now all companies will charge according to the | | | | themselves free from all their previous debts. The |
| new laws and restrictions imposed on them. They | | | | law has made them sensible about the companies |
| are now not allowed to change their interest rates | | | | and their charging systems. Companies will have |
| or make it variable in any situation before bringing | | | | to control themselves from charging excessively. |