Credit Card Accountability And Disclosure Act Essay

The Credit Card Accountability and Disclosure Act was an act that was approved from the United States Congress in 2009. This act was very beneficial towards the credit card users verses the credit card companies, the reason why it helped users is because it put laws and regulations towards companies to provide better services to benefit credit card users more efficiently instead of taking advantage or gain unfair profit from credit card holders. This act did not favor the credit card companies due to the fact it interfered with they’re marketing and production value which overall wasn’t designed to benefit users as much as it should be especially for younger age groups. The credit card act is a very effective act that holds strong value up until today to keep users, companies and the law itself in order for our communities.

The Credit Card Accountability Responsibility and Disclosures Act purpose is to expand the truth about the lending act that took affect in 2010 to expose the abusive and deceptive practices from the credit card distributors. This act helps credit card companies stay in check with they’re interest rates, marketing targets, and fees that are exposed directly towards

Credit card companies will locate themselves near college campuses to market college students to get credit cards. They will market them by having representatives from their company to visit the campus and advertise their credit card. Most college kids are not financially mature to handle money in this fashion, but credit card companies do not care because it helps gain profit for them when any user uses the credit card on regular basis. The 2009 act no prohibits credit card companies to market on college campuses, fully make notice of the all need info of a credit cards especially for younger users and to only hand out credit cards to young users with approved