New 45 days' notice rule proposed for credit cards      
Though most of the proposed Regulation Z changes deal with improving consumer understanding through well-designed information tables, one of the most important changes involves time. The Fed thinks creditors should give 45 days' prior notice of any changes in the interest rate or other account terms. Currently, credit card issuers can change the interest rates, due dates and other terms with only 15 days' notice.
 
'Regulation Z' overhaul to change credit card fine print rules      
The Federal Reserve Board has proposed the most sweeping and consumer-friendly changes in nearly 30 years to Regulation Z, the section of the Truth in Lending Act that governs how consumers are notified of the terms and conditions of credit card and other revolving (open-ended) loans. The last time the Fed made substantial changes to the regulation was in 1981. These changes come in the context of a card industry that has shifted the way it makes money, relying more on fees and less on interest rates, and a regulatory and political climate that has turned hostile to the industry. (See what consumers and credit issuers have to say about the proposed changes.)
 
Feds move to change credit card rules      
Depending on who you ask, today's credit card industry -- a multibillion dollar easy access lending machine -- operates like a deceptive, predatory mafia or is a convenient service for those in need of quick cash. Consumers and advocacy groups complain that banks that issue credit cards unfairly change their rules, hiking annual percentage rates with little notice or changing payment due dates so that consumers are constantly hit with late fees. Banks, on the other hand, contend that people who borrow money should be prepared to repay their debts and banks should be compensated for their risks and losses when lending money. (See what everyone has to say about the credit card reform measures.)
 
Helping a child establish credit in the 'post-piggyback' era      
This controversial credit practice gained steam a few years ago as a foolproof way for people with bad credit to significantly boost their credit scores, sometimes by hundreds of points in just weeks. They simply paid a fee to a company that arranged to add them as an authorized user to the credit report of a person with stellar credit, and voila! Instant good credit.
 
Grad students' credit card debt averages 8,216      
Graduate students now average $8,216 in credit card debt, according to a new survey, which also says students wish they had learned earlier about handling money. The survey was released in September 2007 by Nellie Mae, an originator of federal and private education loans and a leader in debt education and financial management for students.
 
Don't default on student loans      
Student loans are a valuable tool, helping many Americans pay for an education that might otherwise be difficult to afford. However, if not paid back, defaulting on a student loan can end up hurting a recent graduate badly, including leaving them with bad credit.
 
For Gen M, pizza's on par with good credit      
The hard work put in by marketers and educators appears to have convinced students that it's important to keep their credit scores up. In fact, these groups have done such a good job that the folks at Pizza Hut and Domino's may object, based on recent data showing young adults find maintaining good credit to be as important as that centerpiece of college life -- pizza.
 
Discover Student Monogram credit card      
Young scholars looking to build their credit have a stylish option in the form of the Discover Student Monogram Card. This student credit card from Discover Card not only offers great features, but also lets students express themselves through the card's personalized design. With the Onyx color choice, the student's first and last initials will be featured on the card front in stylist type. Meanwhile, the festive Key Lime and Flamingo color options feature the cardholder's first initial in a cool script.
 
Diploma does not erase credit card debt      
Young people can graduate college with all sorts of expenses, not least of which is credit card debt. With credit card issuers targeting students aggressively over the past decade, frequently offering attractive teaser interest rates beginning when they first arrive on campus, students may often find themselves proudly carrying their very own plastic. Young people who are in school are in a unique position, since being a student offers the opportunity to qualify for a credit card without having a job. College may be the only time in a person's life they can get approved for a card while not employed
 
Cash allowances best for kids      
While your kids may be growing up in a world that is very different from when you were a youngster, there is one financial trend that continues to hang on: the allowance. The amount of kids who get an allowance varies depending on what data you consider. Market research firm Yankelovich Partners found that about 58 percent of American children receive a regular allowance, although other studies put that number closer to one-third of kids.
 
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