A Bill of Rights for Credit Card Consumers? - Hawaii News Now - KGMB and KHNL

A Bill of Rights for Credit Card Consumers?

Rep. Neil Abercrombie, D-Hawaii Rep. Neil Abercrombie, D-Hawaii

By Paul Drewes

HONOLULU (KHNL)  - For many, the credit cards in their wallets are turning into a pain in their assets, because of all the fine print from companies. But credit card reform could be coming from a Hawaii leader.

Paying with plastic, has become a popular pastime for many.

"I have five credit cards. My discover is maxed-out at a thousand," said Honolulu resident Aimee Reece.

Nothing could be simpler than swiping your credit card.

But for many, nothing could be more complicated than understanding the fine print that comes with the card.

The rates and fees explained on your credit card bills are written in anything but easy to understand language.

Newly introduced legislation by Congressman Neil Abercrombie would change that.

"You're entitled to clear and concise information that you can absorb," said Abercrombie.

Information to shield you from misleading terms or other gimmicks card companies use that end up costing you more.

"They want you think one thing while they do another remember," said Abercrombie.

"That's bait and switch. They offer you one thing, and then they trick you into signing up for something else."

The new legislation is a "bill of rights" for credit card consumers, to help with the sometimes overwhelming sea of numbers that can help drown people in debt.

"Because of the cost of living in Hawaii, how tough it is to pay for paradise, we want to make sure people with credit cards are not pushed any further than they need to be or should be," Abercrombie added.

The bill being heard in Congress on Capitol Hill, would also allow card holders to set their own limits on their credit.

And would not allow card companies to impose excessive fees on consumers.

Job Link 8 Featured Jobs
  • Hawaii News Now headlinesNewsMore>>

  • Federal agency says it lost track of 1,488 migrant children

    Federal agency says it lost track of 1,488 migrant children

    Wednesday, September 19 2018 7:08 PM EDT2018-09-19 23:08:09 GMT
    Wednesday, September 19 2018 9:39 PM EDT2018-09-20 01:39:33 GMT
    (AP Photo/Brynn Anderson, File). FILE - In this June 20, 2018, file photo, Immigrant children walk in a line outside the Homestead Temporary Shelter for Unaccompanied Children a former Job Corps site that now houses them in Homestead, Fla. A Senate sub...(AP Photo/Brynn Anderson, File). FILE - In this June 20, 2018, file photo, Immigrant children walk in a line outside the Homestead Temporary Shelter for Unaccompanied Children a former Job Corps site that now houses them in Homestead, Fla. A Senate sub...
    Federal agency can't account for 1,488 migrant children placed in homes around the country.More >>
    Federal agency can't account for 1,488 migrant children placed in homes around the country.More >>
  • Trump says 'hard to imagine' Kavanaugh guilty of allegation

    Trump says 'hard to imagine' Kavanaugh guilty of allegation

    Wednesday, September 19 2018 12:37 AM EDT2018-09-19 04:37:34 GMT
    Wednesday, September 19 2018 9:39 PM EDT2018-09-20 01:39:18 GMT
    (AP Photo/Alex Brandon). In this Sept. 6, 2018 photo, Supreme Court nominee Brett Kavanaugh reacts as he testifies after questioning before the Senate Judiciary Committee on Capitol Hill in Washington. Official Washington is scrambling Monday to assess...(AP Photo/Alex Brandon). In this Sept. 6, 2018 photo, Supreme Court nominee Brett Kavanaugh reacts as he testifies after questioning before the Senate Judiciary Committee on Capitol Hill in Washington. Official Washington is scrambling Monday to assess...

    Trump has already rejected the idea of bringing in the FBI to reopen its background check of Kavanaugh. Should he order such a review, it would likely delay a confirmation vote until after the election.

    More >>

    Trump has already rejected the idea of bringing in the FBI to reopen its background check of Kavanaugh. Should he order such a review, it would likely delay a confirmation vote until after the election.

    More >>
  • Regulators: NC flooding too bad to tally environmental harm

    Regulators: NC flooding too bad to tally environmental harm

    Wednesday, September 19 2018 12:39 AM EDT2018-09-19 04:39:06 GMT
    Wednesday, September 19 2018 9:28 PM EDT2018-09-20 01:28:49 GMT
    (AP Photo/Steve Helber). Chicken farm buildings are inundated with floodwater from Hurricane Florence near Trenton, N.C., Sunday, Sept. 16, 2018.(AP Photo/Steve Helber). Chicken farm buildings are inundated with floodwater from Hurricane Florence near Trenton, N.C., Sunday, Sept. 16, 2018.

    Officials say North Carolina rivers swamped dozens of farm buildings where animals were being raised for market, killing about 3.4 million chickens and turkey and 5,500 hogs.

    More >>

    Officials say North Carolina rivers swamped dozens of farm buildings where animals were being raised for market, killing about 3.4 million chickens and turkey and 5,500 hogs.

    More >>
Powered by Frankly