Small Businesses Smacked with Credit Card Rate Hikes
(Inc) — Small-business owners have been slapped with credit card interest rate increases of more than 30 percent since January 2010 because their cards aren’t getting the same protections as those of consumers, says a new study. The Credit Card Accountability, Responsibility and Disclosure Act, enacted last year, limits rate increases, requires banks to apply payments to higher-rate balances first, and mail bills 21 days before the due date instead of 14 days, among other provisions designed to protect consumers from unfair billing practices and rate hikes.
SEE ALSO
- Gym Etiquette 101: 10 Rules Every Respectful Member Should Follow
- Pastor Keion & Lady Shaunie Henderson’s Cry Out Con 2025 Delivers Soul, Spirit And Strength
- Protected: The Sound Of Movement: Ledisi Reflects On The Power Of Protest Music And Self-Love In ‘The Crown’
- Diddy’s Sex-Trafficking Trial Kicks Off: Defense Says ‘Baby Oil’ Isn’t A ‘Federal Crime’ As Hotel Security Takes the Stand
- From Basic To Bomb: 5 Ways To Elevate Your Sex Game This Summer
