The ABA has issued a helpful new resource for consumers…
A free resource developed by the American Bankers Association (ABA), the largest banking trade association in the country, is available for consumers to help simplify credit card disclosures that accompany credit card applications. The new “Guide to Credit Cards” is available on ABA’s Consumer Connection web page.
You can find it here: http://www.aba.com/aba/documents/press/ccguide_62207.pdf
The guide was developed to help consumers make informed choices when comparing credit card offers. Covering a range of often confusing topics such as grace periods, late payments, APRs, minimum payments and tips on how to choose the best credit card, the new guide comes at a time when federal regulators are struggling with proposed regulations to simplify the credit industry disclosure practices.
“Credit cards empower consumers by allowing them to safely and securely make purchases without having the risk of carrying large amounts of cash,” said Nessa Feddis, ABA senior federal counsel. “Ensuring consumers are able to make informed decisions about their credit card activity is a paramount responsibility for card providers. This guide provides an overview of the crucial fundamentals that everyone with a credit card should know.”
* Please visit our site for a complete list of all the Best Credit Cards >