Action Line: Responsible credit use starts with knowing borrowing details
News from Tulsa World:
By PHIL MULKINS World Action Line Editor

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CARD Act Protects Consumer Credit Cards – But Could Hurt Business Users
News from Small Business Trends:

The Credit Card Accountability, Responsibility and Disclosure (CARD) Act, which took effect in late February, is good news for consumers who use credit cards, but could be bad news for small business owners, SMSmallBiz reports.

The CARD act affects only consumer, not business, credit cards. But like consumers, in the past few years business owners have been hit by rising interest rates and fees on their business credit cards. They’ve also been struggling with rising costs for accepting credit and debit cards. Interchange fees–the fees charged by credit-card issuers to merchants whenever a credit or debit transaction takes place–increased from between 1.25 percent and 1.91 percent in 1991 to between 0.95% and 2.95 percent in 2009, according to a recent report…………… continues on Small Business Trends
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