Little Known Ways to Reduce Credit Card Fees

In September 2006, the U.S. Government Accountability Office released a report on credit card fees. The report was requested by Sen. Carl Levin, D-Mich., and decried fees charged by credit card companies and the opaque legal disclosures that enable their billing practices. 2007: In May, Levin and Sen. Claire McCaskill, D-Mo., introduced in the Senate a bill called the Stop Unfair Practices in Credit Cards Act, which would amend the Truth in Lending Act. The bill would limit some of credit industry’s most egregious practices such as the application of penalty interest and charging debtors for paying their bills over the phone or Internet.

$Credit Card Nation: The Consequences of America\'s Addiction to Credit$