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Detailed text transcripts for TV channel - CNN - 20100215:12:21:00

holiday you might miss it inadvertently and no double cycle billing, very big deal for people out there facing two bills in just one month. so, what else are you going to watch out for? guess what, credit card issuers say they re going to lose about $50 billion because of this legislation. and, guess what, they re going to recoup it. there s no restrictions on fees. we ll get new fees out there. already we re seeing major credit card issuers testing annual fees in the marketplace to see just how much they can charge. that s going to be a big deal. what does that mean? you ve got to read the mail coming from your card issuer. they ll have to notify you if they re putting annual fees into place or any other fee. you re going to see a lot. we ve seen interest rates go higher, limits go lower. of course, your minimums go up as well. so, in some ways, this card act really cuts two ways. your credit card bill will be more expansive, explain things a little better. it will tell you the time y

Credit card issuersCycle billingGuess what50 billion0 billionCredit cardInterest ratesCard issuerCredit card billCard act

Detailed text transcripts for TV channel - CNN - 20100807:13:31:00

revenue. so what do you need to look out for? here with great advice, carmen wong ulrich, a personal finance author and very good friend of this show. thanks for coming on. i was looking at this pew charitable trust study that came out. it said credit card fees when you look at the annual fee have gone up 18% from july 2009 until march of this year. so even after the card act you have these fees going up higher and higher. interchange fees and swiping fees. that s a big deal for folks. credit card regulations losing the business over $300 billion million dollars. but here is the thing. interchange fees is a little bit of a kind of secret here. us as consumers think credit card companies make their money just off of our interest payments or fees or balance transfer fees. they make a lot of money, $20 billion a year, off of the other side of the transaction, the swipe. that s why some stores only accept cash. every time you swipe, they get 2% to 3% of every transaction you have.

Credit card feesCarmen wong ulrichPew charitable trustCard actInterchange feesJuly 2009Credit card companiesCredit card regulationsInterest payments00 billion300 billionTransfer fees20 billion0 billion

Detailed text transcripts for TV channel - CNN - 20100807:13:30:00

Detailed text transcripts for TV channel - CNN - 20100807:13:30:00
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Credit cardCard actCredit card feesInterest rate hikes