Credit Cards

The amount of credit card debt juggled by a majority of American households has exploded in the past decade, due to aggressive marketing and credit line extensions by credit card companies, as well as a host of abusive and deceptive practices. Creditors will increase a cardholder’s interest rate when a single payment is late or if the consumer’s credit score has changed, even if every payment was received on time. Card companies also impose a host of fees and punitive charges that exacerbate the problems of consumers who have hit hard times.

Policy Analysis

Comments of NCLC and others re: Proposed Rulemaking to Prohibit Unfair or Deceptive Acts or Practices with Respect to Credit Cards and Overdraft Loans, August 4, 2008 PDF 300KB

Comments of NCLC and others re FRB May 2008 Revised Proposal on Regulation Z Credit Card Disclosures, July 18, 2008 PDF 214KB

Press Release: Senator Durbin introduces quick fix for predatory consumer lending, July 18 2008 PDF 13KB

Press Release: Fed’s Credit Card Rules: Good First Step, May 2, 2008 PDF 165KB

Support Letter for Senator Dodd Credit Card Bill, April 30, 2008 PDF 168KB

Support Letter for Senator Menendez Credit Card Bill, March 12, 2008 PDF 172KB

Guide to Surviving Debt

Special Report:
The Life and Debt Cycle: The Implications of Rising Credit Card Debt Among Older Consumers Report
Part I and Part II

Comments of the NCLC and NACA Regarding Advance Notice of Proposed Rulemaking Relating to Unfair or Deceptive Acts or Practices, November 6, 2007 PDF 528 KB

Press Release: High-Fee, Low-Credit Predatory Credit Cards Prey Upon the Poor, November 1, 2007
Report: Fee-Harvesters: Low-Credit, High-Cost Cards Bleed Consumers PDF 464KB
Listen to Audio from News Event

Press Release: Consumer Groups to Fed: Stop Abusive Credit Card Practices Press Release, Oct. 15, 2007

Comments of NCLC and others re FRB Proposed Rule on Regulation Z Credit Card Disclosures, October 12, 2007 PDF 705KB

Sample Letter to Federal Reserve on Credit Card Proposal PDF 36KB

Support Letter for Student Credit Card Protection Act of 2007, July 27, 2007 PDF 58KB

Press Release: Consumer Groups Support Senator Levin's Bill that Attacks Widespread Credit Card Abuses, May 15, 2007 PDF 68KB

Letter in Support of Minimum Payment Warning Bill, April 17, 2007 PDF 159KB

Testimony before the Committee on Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations regarding Credit Card Practices: Fees, Interest Rates, and Grace Periods, March 7, 2007 PDF 150KB

Press Release: Consumer Groups Call for Congressional Action on Unjustifiable Fees, Outrageous Interest Rates and Questionable Lending Practices, March 7, 2007 PDF 65KB

Written Testimony of Michael D. Donovan, Partner Donavan Searles, LLC, Philadelphia, also on behalf of NCLC and NACA before the Senate Committee on Banking, Housing, and Urban Affairs, January 25, 2007 PDF 163KB

Joint Recommendations of Consumer Groups on Unfair Credit Card Practices: Eliminate Reckless and Abusive Lending by Credit Card Companies, January 25, 2007 PDF 12KB

Letter of Support for Credit Card Reform Act and the Protection of Young Consumers Act, May 22, 2006 PDF 82KB

Sample Letter to Federal Reserve Board on Credit Card Practices, March 2005

Comments of the National Consumer Law Center and Others PDF 766KB
Appendices to Comments PDF 1.03MB