| Credit is a valuable tool extended by financial institutions and retailers. Learn what credit is; how to choose a credit card and execute good credit card management skills; how to avoid harmful credit practices; and, what are credit reports from the New York State Consumer Protection Board’s resources.
Credit Management and Credit Card Tips and Tools
- Financial Planner Fact Sheet - Whether you are seeking a complete overhaul of your financial portfolio or you just want to focus on one area of your financial health during these difficult economic times, getting assistance from a financial planner may be a consideration. This brochure provides information about financial planning services.
- Credit Counseling and Debt Mediation Fact Sheet - Are you overwhelmed with debt? A credit counseling agency might be a good choice for you. This resource may help guide you understand what these agencies do and provide tips if you decide you want to use their services.
- Choosing and Using Credit Cards - This brochure provides consumers with information on how to choose and use credit cards wisely without falling into debt.
- Credit Versus Debit Cards - Consumers should consider both the pros and the
cons before deciding which type of card to use. Government regulations are
designed to protect consumers using credit and debit cards, and consumers should
be aware that these protections vary by the type of card and the issuer.
- Credit Card Debt Calculator -
How long will it take you to pay off your credit card debt? A credit card
calculator is one method of approximating how much you will pay in credit card
interest in addition to the original purchase price of the good or service you
charged on your credit card. Additionally, it will approximate how long it will
take to pay off the current balance due on your credit card.
- New Credit
Card Law Better Protects Consumers - On Friday, May 22, 2009, President Obama signed into law the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009, which affords consumers with sweeping protections from abusive credit card practices. Governor David A. Paterson and the CPB were among the vocal advocates for reform, and are concerned about potential actions that credit card companies may take as reforms are implemented. Click on this link for information regarding key provisions of the CARD Act of 2009.
- Tips
On Credit Card Terms - Understand the confusing terms used by credit card issuers.
- On Saturday, December 27, 2008, Yahoo! published a
Bankrate.com article under the title of
12 Steps to Credit Card Success. The article had been published in August by Bankrate.com as
How to be a savvy credit cardholder.
The piece referenced the New York State Consumer Protection Board's tips. The caption reads:
"Credit card issuers have been calling the shots for years. Follow these rules to beat them at their own game."
The CPB is pleased to provide the article in its entirety, reprinted and posted with permission from Bankrate.com and the author, Leslie McFadden. (c) 2008.
Credit Report Information
Debt Collection
- The CPB's Debt Collection Information Center - Debt collection problems continue to be a top consumer complaint received by federal and state consumer protection agencies. Click on this link to access information about consumer rights regarding debt collectors, validating a debt, debt collection procedures related to identity theft, sample initial debt collection dispute letter, sample letter to stop debt collection calls (cease and desist letter), contacts for consumer/debtor complaints, and common debt collection questions and problems
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Debts you owe & debts you don't: How to spot and fight illegal debt collections tactics - Some intimidating debt collectors have harassed consumers with threatening phone calls early in the morning or late at night. Others have attempted to collect debts that never existed, or have seized Social Security and Veterans benefits; alimony or child support; and/or other protected benefits from personal bank accounts. This brochure shows you how to spot illegal collection tactics and how the law can protect you
- The CPB has been advocating on the State and federal level for reform to outdated laws that leave consumers vulnerable to unscrupulous debt collectors. Recently, a
Commentary from the CPB's Chairperson and Executive Director Mindy A. Bockstein appeared in the Albany Times Union.
Payday Loans
Merchandise Repossession
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