The consumer credit card protection act was designed to help American consumers when it comes to credit cards and interest rates. The FDIC is likely going to help raise credit scores with the new credit card act. This act could go a long way to helping consumers better understand how to get out of debt.


By looking at your credit card statement there is a very good chance that you will notice many changes in how the statement looks. It is now the case that you will be given a column that tells you how long it will take to pay off your credit card if you make the minimum monthly payments.

This number could be very high for some cardholders who have a high interest rate and a high balance on their credit card. Hopefully this will force borrowers to pay much more than the minimum monthly payment because they will realize just how long it will take to pay that particular card off.

With the consumer credit card protection act working very hard to help Americans the FDIC could go a long way to helping raise credit scores with the new credit card rules and regulations that are now in effect.

Author: Heather Best