Investopedia

Continue to Site »

Credit Card Accountability, Responsibility And Disclosure Act Of 2009

Filed Under »
Dictionary Says

Definition of 'Credit Card Accountability, Responsibility And Disclosure Act Of 2009'

This act was designed to limit the manner in which credit card companies can charge their customers. It prohibits arbitrary increases in interest rates and the application of penalties to customers who make timely payments. The CARD act set forth several other guidelines as well, but does not enact price controls or caps on interest rates.
Investopedia Says

Investopedia explains 'Credit Card Accountability, Responsibility And Disclosure Act Of 2009'

This act is commonly known as the Credit CARD Act of 2009. Enacted on May 22, 2009, the law will become effective on February 22, 2010. Ultimately this legislation will make it easier for consumers to pay off their credit card balances in many ways. CARD was enacted as a response to the rising level of unsecured consumer debt.

Articles Of Interest

  1.

    Take Control Of Your Credit Cards

    The plastic in your wallet doesn't have to hurt your finances. Learn how to manage it responsibly.

  2. Credit, Debit And Charge: Sizing Up The Cards In Your Wallet

    Not all plastic is equal! Learn the difference between the three kinds, and how each can affect your finances.

  3. How Credit Cards Affect Your Credit Rating

    The average American household has four cards, but does that mean more is better?

  4. Understanding Credit Card Interest

    Paying these rates can impact your disposable income and your investment returns.

  5. Digging Out Of Personal Debt

    Find out why good intentions can put consumers in an even bigger hole than before.

  6. What's On A Consumer Credit Report?

    A look at the various components and considerations that go into one's credit report and credit score.

  7. 7 Unconventional Ways Businesses Can Borrow Money

    Find out how your business can get the money it needs - even when the bank says "no".

  8. Taxable Rewards To Be Aware Of

    Find which benefits from reward programs count as income in the eyes of the IRS.

  9. Financial Solutions For Young Women

    Break through the stereotypes and find out how to manage your life to meet your needs.

  10. Bloated Budget? How To Trim The Fat

    Blood, sweat and tears should belong in the gym, but your money deserves some training time too.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Validation Period

    The amount of time necessary for the premium on an insurance policy to cover the commissions, the cost of investigation, medical exams and other expenses associated with the issuance of the policy.

  2. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  3. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  4. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  5. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  6. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.
Trading Center