Beware Business Credit Card Solicitations

Four U.S. Senators urged the Federal Reserve to crack down on business credit card marketing, because the cards do not come with many of the protections that are standard on basic consumer credit cards. According to the Wall Street Journal the senators want the Fed to require credit card companies to improve disclosures on the business cards and clearly warn consumers that the cards are NOT protected by the latest regulations that have reined in billing practices such as sudden interest-rate hikes. Each month lenders send out 10 million offers to consumers for professional credit cards, according to a study by the Safe Credit Card project at Pew Charitable Trusts, a Washington, D.C.-based consumer-advocacy group. See: http://www.pewtrusts.org/our_work_detail.aspx?id=616

Second point: register to Opt Out of credit card solicitations to cut down on junk mail, wasted trees & paper, and to protect against ID theft from stolen solicitations. Sign up at OptOut Prescreen:  https://www.optoutprescreen.com/?rf=t