the credit card interest
rates you are being offered,
or any other terms or
conditions that you feel are
unfair or less favourable
than those to which you
are entitled to, you may
wish to familiarise yourself
with the Fair Credit
Reporting Act or FCRA as it
is abbreviated. This law is
primarily aimed at ensuring
that people's credit reports
are kept accurate and up
to date, as well as
protecting your privacy in
financial matters such as
these. It is governed and
enforced by the Federal
Trade Commission, which,
takes on the role of
protecting consumers at a
federal level.
Therefore if you feel that
you are being cheated or
there is something afoul
with the credit card interest
rates you are being offered,
you may wish to get into
contact with the Federal
Trade Commission to see
what exactly your rights are
in this regard. You should
always make a point of
understanding and being
up to date with these rights
whenever you are
negotiating for new credit,
or an improvement in the
terms of your existing
credit, since such
knowledge and
information will improve
your bargaining position
and will help ensure that
you are not taken
advantage of by the big
credit providers and banks
that you will be dealing
with.
With regard to your credit
report, there is a free
disclosure rule in the
Accurate Credit
Transactions Act that gives
you a right to view your
credit report for free. This
right applies to the credit
reports compiled by each
of the three nation wide
consumer credit reporting
companies that operate on
a national basis. There is a
web site and phone
number that you can use
to get access to all three
reports at the same time
www.annualcreditreport.
com is the website
1-877-322-8228 is the
phone number.
You may mail a
request to Annual Credit
Report Request Service,
PO Box 105281, Atlanta,
GA, 30348-5281.
The companies must
provide you with a copy
of your report, free of
charge, at least every 12
months and you can
then ensure that all of
the information
contained in it is
accurate and up to date.
You may then be able to
use this information to
protect your right to
receive the best possible
credit card interest rate
offers that you are
entitled to. Simply
ensuring that your credit
report is accurate and
being aware of your
rights can significantly
improve your access to
the best credit card
interest rates on the
market so make sure
you keep on top of
these issues if you are
considering applying for
new credit in the near
future.
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