Call Your Representative in Congress

Entering the House is House Bill 627, the so-called Credit Card Holder's Bill of Rights. HB 627 would outlaw the slew of hidden fees and rate hikes that go completely unregulated. Those companies get to do pretty nifty things, like double your percentage without warning and don't have to tell you why; also on occasion they do what they call "two-cycle billing" where you'll get charged interest on two months worth of balances, even if the first has already been paid in full.

It does take two to tango, and the American consumer machine has racked up $935 billion in debt as of the end of 2008.

I would have to say that regulating the billing practices of banks offering consumers credit would actually help those banks, and keep the number of those consumers close to defaulting on their payments away from actual default.

Maybe it's the American way to let companies have their way with the citizens. Seems almost hard to argue with that from a historical standpoint. But, if you think that people should have the right to be cleanly bled little by little without fear of unannounced rate hikes, then contact your Representative and tell them to vote in favor of HB 627.

Also, you should get in the ear of your Representative and Senator all the time anyway. YOU are their boss, and THEY work for you.