Credit Cards Companys : MNR Credit Services, credit repair services, credit services, mortgage saver, credit score improvement

Credit Cards Companys

New Up Dates As Of 07/21/2010

New credit card reform has many consumers in a state of PANIC.
On existing accounts with big issuers like Chase, Citibank and Bank of
America consumers may start seeing

from 2% to as high as 5%. Meaning a card with a minimum payment
of $200 could soon be as high as $400-$450! If you’re stressed over high
balances or a minimum payment increase . There is help here and this is a good place to
start exploring these new bailout-type programs.

New As Of 02/17/2010

Unexpected rate hikes. Over-limit fees. Double-cycle billing. Those are just a few of the credit-card practices that have trapped millions of consumers into a life of constant worry over mounting debt. In less than a week, these practices will be history.

On Feb. 22, 2010, the Credit Card Accountability Responsibility and Disclosure Act (CARD Act) takes effect. It puts forth new rules for credit-card issuers that are arguably the most consumer-protective in the history of credit cards.

If you're the type of person who reads every piece of mail sent by your credit-card companies, then chances are you already have a fair idea of the changes coming. (Credit issuers have been mailing out change-of-terms notifications that explain the details in recent weeks.)

Then again, credit-card rules are hardly ever simple -- and the CARD Act is no exception. Below are the key changes that the new law puts forth, along with some notable exceptions that could still allow consumers to get in trouble with their credit cards.

Finance Charges, Interest-Rate Hikes and Notifications

• No rate increases for the first 12 months after opening an account.
• Rate increases can only be applied to new charges.
• Annual and application fees cannot exceed 25% of your initial credit line.
• No more double-cycle billing.
• A six-month minimum promotional-rate period.
• No more over-limit fees, unless the card holder opts in.
• No fees to make credit-card payments online or over the phone, unless you make a payment on your due date.
• Must give 45-day notice of pending rate or fee hikes or any other significant changes to credit-card terms.

Exceptions, Caveats, Loopholes:

• Rate hikes are allowed if you're more than 60 days late with a payment.
• Some banks have already found a way around the rate-hike issue, by increasing card users' regular interest rates to as high as 29.9% and then refunding a part of that rate for each month that the customer pays on time.
• Double-cycle billing, although prohibited, can technically still exist for credit cards that don't have grace periods.
• Issuers have been calling consumers asking them to opt in for over-limit fees in exchange for lowering that fee, says Chi Chi Wu, a staff attorney with the National Consumer Law Center, a consumer advocacy group. What they're not saying is that if people don't opt in, the transaction will be denied and they will not be charged over-limit fees in the first place, Wu says.

Exceptions, caveats, loopholes:

If you make a purchase under a "deferred-interest" plan (such as "No interest for six months," for example), the company may let you choose to apply extra amounts to the deferred-interest balance. Otherwise, for two billing cycles before the end of the promotional period, your entire payment must be applied to that balance. Carrying a "deferred-interest" balance is a risky proposition altogether, says Wu: Unless the balance is paid in full over the specified period, the company will charge all interest retroactively once the promotional rate expires. "We think deferred-interest plans should have been banned," Wu says.

Billing Statements, Payments and Disclosures

• Billing statements must be sent 21 days before the due date.
• Your due date should be the same date each month.
• Payments are considered on time when received by 5 p.m. on the due date or the next business day after a holiday or weekend.
• Payments above the minimum must be applied to the highest-rate balance first.
• Each monthly statement must include information on how long it would take you to pay off your balance if you make minimum payments only and the total you'll pay, including interest and principal; and how much you need to pay each month in order to pay off your balance in 36 months and the total you'll pay, including interest and principal.
• Statements must also include a warning that by making only minimum payments you will pay more interest and it will take you longer to pay off your debt, as well as a toll-free number to call if you want to be referred to a credit-counseling service

Exceptions, Caveats, Loopholes:

• Issuers will likely start appealing to parents to co-sign their children's credit cards. And the Federal Reserve has specified that issuers have the option of keeping the parent on the hook even after the young person turns 21, Wu says. "If that younger person keeps the credit card for 20 years, the co-signer is liable that whole time."
• Issuers are not allowed to give out freebies for signing up for a credit card on or near a campus -- which still allows them to set up shop near popular off-campus venues and offer freebies to everyone, whether or not they apply

New As Of 12/12/2009

Obama presses for financial industry overhaul

posted: 53 DAYS 4 HOURS AGO

Text SizeAAA

NEW YORK -President Barack Obama is asking the financial industry to support his push for changes he says would help prevent another economic crisis and would be good for the country in the long run.

Obama made his plea Tuesday night a Democratic Party fundraiser in New York City, speaking to donors who paid $30,000-per-couple to hear him just two weeks before the Nov. 3 elections.

Obama defended administration efforts to bail out the financial industry, calling it unpopular but the right thing to do.

Now, he says the right thing for the industry to do would be to support the changes he has proposed, including creating a federal agency to protect consumers.

As Of 11/26/2009

Avoid a costly Bankruptcy that will haunt you for 10 years

- Get assistance with threatening collection calls

- Be debt free in 24-36 months

- Eliminate debt by up to 60%

- Legal team negotiates on your behalf

- Customized and individualized solutions

What New In The News Out There..
CIT survived the Great Depression, but it couldn't weather the Great Recession.

Its demise may be a sign that the wave of crumbling, sub-prime mortgage-infected financial

giants has not ceased.

CIT's bankruptcy filing will be the fifth largest in U.S. history, after Lehman Brothers,

Washington Mutual, Worldcom and General Motors. CIT's board of directors met Sunday

and approved the

Chapter 11 procedure, to be taken in New York's Manhattan bankruptcy court.

The bankruptcy will be "pre-packaged" so as to allow the company to keep

operating and emerge

by the end of the year.

Due You Need Help??

Negotiable Debt Includes:

- Credit Card Debt
- Department Store Cards
- Medical / Hospital Bills
- Unsecured Lines of Credit

- Oil / Gas cards

Non-Negotiable Debt Includes:

- Student Loans
- Taxes
- Car Loans
- Secured Bank Loans

- Motorcycle Loans

JP Morgan Chase became the first bank to drop its arbitration clause from its credit card contracts, so Chase credit card holders will have the right to go to court to dispute a problem with its credit card decisions.

This decision was part of a settlement of an antitrust lawsuit filed by Minnesota Attorney General Lori Swanson that involved the largest arbitration company, the National Arbitration Forum, in July. The Forum is no longer part of the process of consumer-debt arbitration, but the banks have not yet settled the suit. This move by Chase will likely encourage other banks to do the same thing.

While Bank of America became the first one to announce that it would no longer require credit card, bank account and auto loan customers to sign away their right to sue and force arbitration, it has not yet settled the existing lawsuit. Capital One Financial, HSBC Holdings and Discover Financial are among the other financial institutions named in the suit.Much of the case centers around alleged practices of the National Arbitration Forum, which was by far the largest of the companies that arbitrated credit card disputes. The suit alleges they masked their connections to collection firms, which won the vast majority of arbitration cases.

WE NOW CAN HELP YOU LOWER YOUR CREDIT CARDS BILLS

BY 60% AND LOWER YOUR PAYMENTS.

Obama administration is setting aside $30 billion from the financial bailout fund for a program designed to encourage lending to small businesses to aid the economic recovery.

•	Banks earned $5.7B in 3Q trading - (AP)
•	BofA Merrill Lynch Plan Launch - (Zacks.com)

More News on Money Center Banks: Latest News, Top Stories

Industry Top Performers

Intraday Price Performance	% Change	Market Cap
CITIGROUP INC [C]	+6.25%	$73.2 B
United Bancshares, Inc. [UBOH]	+2.98%	$28.9 M
WELLS FARGO & CO NEW [WFC]	+2.72%	$122.1 B
P N C FIN SVCS GR [PNC]	+2.58%	$24.2 B
SUNTRUST BANKS [STI]	+2.09%	$10.3 B

More Top Intraday Price Performers...

Market Capitalization	% Change	Market Cap
JP MORGAN CHASE CO [JPM]	+1.69%	$158.7 B
BK OF AMERICA CP [BAC]	+1.14%	$128.6 B
WELLS FARGO & CO NEW [WFC]	+2.72%	$122.1 B
CITIGROUP INC [C]	+6.25%	$73.2 B
ROYAL BANK OF CANADA [RY]	+0.47%	$72.7 B

Most banks will lower your credit cards and give you up to 12 payments to pay them off with

a lower payment by 60% of what you owe.

Most Banks will wright it off and send you a 1099 .

See if you can get help on your credit cards or 2nd mortgages e mail us at mnr.services@yahoo.com.

Or check with your credit cards companys or banks and ask for help.

DON,T WATE TILL IT TO LATE SAVE NOW.... IT,S ONLY A PHONE CALL AWAY ...

The information and notices contained on this website are intended as general research

and information

and are expressly not intended, and should not be regarded, as financial or legal advice.

By submitting this contact request, you are consenting to be contacted by foreclosure

consultants by telephone or email.

Mnrcreditrepair.com is not a mortgage lender and does not provide refinance loans.

Mnrcreditrepair.com is not a government sponsored website. Mnrcreditrepair.com matches

consumers with companys that can help you save money and that gives links to outher sites

and ways so you don,t have to file bankruptcy.

Loan Modifications