The Credit Card Legislation In English:

1. Credit card statements must be mailed 21 days before the bill is due (this is an increase to protect consumers from the previous law of 14 days)

2. Effective August 2009, credit card Issuers must give Consumers 45 days notice before increasing interest rates, fees, and terms on a card (vs 15 days). However, the clincher is that there is no standard in the legislation about how an Issuer informs the Consumer about changes; so every Issuer can notify as they please.

3. Starting in February 2010, Issuers cannot raise interest rates on EXISTING balances (unless the account is 60 days late). Bingo! This is why credit card Issuers are raising rates on existing balances while they still can.

4. If you make a payment in excess of the minimum, the Issuer must apply it to the balance with the highest interest rate and then to the other balances, from highest to lowest. (effective Feb 2010)

5. If you have two accounts with the same Issuer, they can no longer practice "universal default." This means that if you are late in making a payment in one account, they can't raise the rates on the other.

6. Starting February 2010 credit card statements must indicate (a) how long it will take to pay off if you only make the minimum payment (b) the total cost of payoff if you only make minimum payments. Issuers hate this one, because it shows the real cost of unpaid balances.

7. Applicants under age 21 will not require an adult co-signer and/or proof of income for approval; additionally the legislation prevents Issuers from offering incentive gifts for applicants on or near college campuses.

Regardless of the improvements in this Legislation, it is still your responsibility to manage your credit score and the open lines (both business and personal) you carry.

Remember, high interest rates can decimate your profit in business. This might be a good time to shop around for decent balance transfers.

Bari is available Monday and Wednesdays from 9 - 12 and Tuesdays from 2 - 5 Mountain Time each week.

To Schedule, Click here and then hit the 'Book Now' button...

Level I: WAKE UP WITH MONEY - 9 Evening (90 Minute Classes) TELECOURSE

**Meeting On Mondays Every Other Week**

Transforming your Relationship with Money on a Practical, Psychological, and Spiritual Level.

Mondays, November 23rd, - March 15th

TIME: 5:00 - 6:30 Pacific Time

Please Note: I offer a discount for couples and I now offer the same discount for friends, colleagues or family members when you take the course together. And, lastly, I am open to payment plans!

Our foundational course at Conscious Bookkeeping with Bari Tessler, M.A.

Summary:

This TeleCourse is an integrative approach to Financial Therapy & Values - Based Bookkeeping Training.

It is designed to increase your clarity, intimacy, knowledge, ease and success with your relationship to money!

With group coaching, tele-seminars and homework in between classes, there will be plenty of time to dive into and begin healing the emotional, psychological and practical issues you may have around money.

You will also explore the basic structure of a bookkeeping system from both a philosophical and practical standpoint.

And you will complete this course with one-on-one bookkeeping techniques and software training with Eva Koningsberg - our Quicken Expert, who will give you the handholding you need to lay the foundation in transforming your relationship with money.

Cost:
$400.00 for individuals- $600.00 for Couples

(Couples include Friends, Colleagues & Family)

**(Please Note: I have been charging $500.00 -Individuals and $750.00 -Couples for many years. Due to the economy it felt right to discount a bit in 2009, therefore the $100.00-$150.00 Discount)

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