Credit Cardholders Bill of Rights

The United States government recently bailed out some big Wall Street banks. Now it’s time to help consumers – people across the country who’ve been fleeced by predatory credit card practices during two decades of “anything goes” policy in Washington. While the large financial corporations on Wall Street are being bailed out of a mess that they created for themselves, millions of consumers on Main Street are still drowning in a sea of debt.


On July 31, 2008 the Credit Cardholders Bill of Rights, H.R. 5244, passed through the House Financial Services Committee despite vigorous opposition from the credit card industry. The industry is still fighting this bill, but we can pass it next week.

The entire House of Representatives must vote on this bill next week – before it adjourns for the year. You can help to make sure it does!

Please CALL your representatives today to ask them to vote FOR the Credit Cardholders Bill of Rights, H.R. 5244, without any amendments that would stall or weaken the bill.


As the New York Times said, “The Credit Cardholders’ Bill of Rights would help rein in some of the worst abuses.” Specifically, H.R. 5244 would:


• Stop unjustifiable interest rate increases on existing balances.

• End bait-and-switch contract clauses.

• Apply the consumer's payment proportionally between high and low rate balances.

• Stop "double cycle" billing, which requires consumers to pay interest on debts they've already paid off.

• Give the consumer a chance to set a fixed credit limit and avoid over the limit fees.

• Prohibit the granting of credit cards to consumers who are younger than 18 years-of-age.

Please take a moment out of your busy schedule - right now - to call your representative and tell them to support the Credit Cardholders Bill of Rights - without any amendments.


If you can’t call, then please personalize the letter below and insist that your Representative support legislation to stop the most predatory practices of credit card companies.
http://action.citizen.org/t/1153/campaign.jsp?campaign_KEY=25964