CNBNews

Hi Bill,

For the first time in many years, Congress is starting to pay attention to unfair credit card fees and practices.

It's because they're getting worse. Some of the biggest banks in the country, like Citibank and Chase and Capital One and MBNA (now part of Bank of America), have been accused of unfair practices in congressional hearings. Some banks have used so-called "universal default" to raise the interest rates of good customers to 36% APR or more; others have been caught changing your bill's due date or using the fine print to hook college students into cards with terms they can't afford.

And every card company engages in the unbelievable practice of changing the price of their product after you've already bought it -- -when they raise your interest rate, it isn't only for future purchases, but it applies retroactively to your old balance, too.

Tell Congress to kiss credit card abuses goodbye. 

Click here to send them a personalized Valentine:
http://www.njpirg.org/action/financial-privacy/vday?id4=ES

It's easy. We'll print up all the responses we get and make a Valentine's Day delivery to Capitol Hill. We're hoping that the not-so-secret admirers they hear from will convince them to take decisive action now to outlaw deceptive credit card practices.

Sincerely,

Allison Cairo
NJPIRG Executive Director
AllisonC@njpirg.org
http://www.NJPIRG.org

P.S.  If you didn't do it already, call to lower your APR. Here's what one member reported. "When I called the credit card company and requested a rate reduction, they transferred me to the rate adjustment department, said I was "eligible," and they dropped it by nearly 3 percent -- from over 15 to 13. Thanks very much for prompting us!" Report your story here: http://www.njpirg.org/action/other-issues/lower-apr