Creditnet Lends Wisdom on New Proposed Credit Card Regulations

Creditnet, a leading resource for credit card research and recommendations, utilizes its blogs, forums, and featured articles to weigh in on the sweeping changes effecting credit cards, their owners, and their issuers.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend
Finding a great credit card is possible, even in tumultuous economic times and amidst rapid changes to credit cards and lending.

Seattle, WA (PRWEB) December 15, 2010

Following the year's slew of new credit card regulations, Creditnet has revitalized its focus to keep credit card users informed on nation-wide policy changes and their consequences on money management. Creditnet, a leading resource for credit card research and recommendations, utilizes its blogs, forums, and featured articles to weigh in on the sweeping changes effecting credit cards, their owners, and their issuers.

"The most recent changes were proposed in October 2010, when the Federal Reserve Board addressed protection gaps in the Credit Card Accountability Responsibility and Disclosure Act of 2009. Prior to that, new rules that were part of the CARD Act went into effect on August 22nd," explains Josh Heckathorn, President of Creditnet. "Things are changing rapidly, and our customers need to know both the benefits and the restrictions of any new regulations. Our goal is to get that information to our users quickly and in a way that they can easily understand."

Creditnet's blog, Creditcents, is updated throughout the week and offers fast news and money management tips, such as “5 Easy Ways to Ruin Your Credit”, that users can put to use immediately. More in-depth featured articles are updated in the site's Credit Learning Center; these give readers a further understanding of news-worthy topics, such as new credit laws and amendments, in addition to analyses on credit cards, debt, and money management.

"The proposed amendments to Regulation Z (Truth in Lending) are rather significant in the world of credit," says Heckathorn. "They certainly further clarify the Credit CARD Act of 2009 and provide some enhanced protections for consumers, but we can also expect them to further restrict lending in an already tight environment – especially for those with less-than-perfect credit."

Creditnet's advice in the face of policy shifts parallels its overarching, site-wide goal: encouraging individuals to live within their means, and to always pay their credit card balance in full and on time. "We want our customers to be able to find the best deals on credit cards that meet their financial needs," says Heckathorn. "That starts with having good credit, or repairing and rebuilding poor credit. After that, it's about comparing and contrasting credit cards specifically for the things that are important to you, such as rewards, high credit limits, low interest rates, or no annual fees."

Heckathorn's final words of wisdom: "Finding a great credit card is possible, even in tumultuous economic times and amidst rapid changes to credit cards and lending. Creditnet is here to help ensure that happens."

To read more from Heckathorn and his team of credit experts, visit Creditnet.com.

About Creditnet:
Based in Seattle, WA, Creditnet.com provides a free online network of people and resources dedicated to helping others build, maintain, or repair credit. The company also offers recommendations on bad credit credit cards, no interest credit cards, and rewards cards. Creditnet's vision is to be the premier online resource for all things related to credit.

###


Contact

  • Elisabeth Chan
    Creditnet
    206-498-0015
    Email