Dealing with credit cards

There are many benefits to having a credit card. It may offer an extra layer of security when faced with unexpected expenses, and some offer rebates, gas, air miles, and other perks. Most consumers know they should spend wisely, but credit cards often lead to financial hardship and the difficulties that come with a bad credit history. Whether or not you are in the market for a credit card, our tips can help you protect your financial future.

  1. Comparison shop for a better deal. Comparing cards can be can be difficult, given the many, many fees, introductory offers, varying APRs, and credit limits available to you. NerdWallet has a useful tool that will compare over 1,000 credit offers, based on your individual circumstance.1  You can also print out a checklist to do a side-by-side comparison of credit card offers. 
  2. When shopping around, beware of secured credit cards. They may be the only option for those with bad credit, but the arrangement is like lending money to yourself. The opportunity to lend money to yourself comes with an APR and fees for membership, late payments, and/or over-limit charges.2
  3. Challenge fees. The CARD Act of 2009 prohibits companies from charging more than 25% of the credit limit during the first year. For example: if your credit limit is $300, the company many not charge more than $75 in fees. You may also be able to negotiate the reduction or forgiveness of exorbitant fees, e.g. a $25 late payment fee on a $20 balance, by calling customer service and asking to speak with a supervisor.
  4. Watch for changes to your existing accounts. The CARD Act of 2009 also requires credit companies to send notice of changes to accounts 45 days in advance. If you don't like the changes, call customer service to find out about your options.
  5. Avoid fraud. You may read more on the identity theft tip sheet, but there are a few basic ways to protect yourself from identity thieves. Keep your credit card in sight when you use it, and try avoid situations in which the seller might walk off with it, e.g. restaurant servers. Immediately call the toll-free, 24-hour service line for your credit company when you realize that your card has been lost or stolen. After you report it, you will have no liability for charges that you did not make.3
  6. Consider opting out of pre-screened credit offers. Pre-screened credit card offers can easily be stolen from your mail or your trash, giving identity thieves the opportunity to ruin your financial life. Opting out is a smart way for you to protect yourself without spending time sorting and shredding your mail. To opt out for five years, call 1-888-5-OPT-OUT (1-888-567-8688) or go to www.optoutprescreen.com.4  To opt out permanently, you must do so by mail. The optoutprescreen.com website has a form that you may print and mail to the address indicated. You may also send requests to each of the credit reporting bureaus, making sure to include your home telephone number, name, Social Security number, and date of birth. Mail requests to opt out permanently must be sent to each of the address below:

Experian
Opt Out
P.O. Box 919
Allen, TX 75013

TransUnion
Name Removal Option 
P.O. Box 505 
Woodlyn, PA 19094 

Equifax, Inc.
Options
P.O. Box 740123
Atlanta, GA 30374-0123

Innovis Consumer Assistance
P.O. Box 495
Pittsburgh, PA 15230-0495

Sources:

  1. http://www.nerdwallet.com/credit-cards/
  2. Counsumerist: http://consumerist.com/2010/05/12/rent-to-own-is-loansharking/ 
  3. http://www.consumer.ftc.gov/articles/0216-protecting-against-credit-card-fraud 
  4. FTC information on opt out: http://www.consumer.ftc.gov/articles/0148-prescreened-credit-and-insurance-offers 

Issue updates

News Release | Illinois PIRG Education Fund | Consumer Protection

Struggling Peoples Gas pipe program once again over budget, behind schedule

As its long-troubled pipe replacement program comes under increased scrutiny from the Chicago City Council, Peoples Gas filed its first 2019 quarterly program report to the Illinois Commerce Commission Wednesday. It shows that the program is once again over budget and behind schedule. Adding insult to injury, at least 7 percent of the average March residential customer bill is going toward pipe replacement work.

> Keep Reading
News Release | U.S. PIRG Education Fund | Consumer Protection

Fisher-Price recalls nearly 5 million potentially deadly Rock n’Play sleepers

Fisher-Price recalled 4.7 million Rock n’Play baby sleepers on Friday. U.S. PIRG Consumer Watchdog Adam Garber issued a response: "“While we’re pleased that Fisher-Price is finally recalling these dangerous sleepers, 30 deaths in 10 years is 30 deaths too many and 10 years too late."

> Keep Reading
News Release | Consumer Protection

Statement on Wells Fargo’s response to “Debit Cards on Campus” report

Read U.S. PIRG's statement on Wells Fargo eliminating some fees for student on debit cards.

> Keep Reading
News Release | U.S. PIRG Education Fund | Public Health, Consumer Protection

Tyson chicken strips recalled, may contain pieces of metal

Just seven weeks after Tyson Foods recalled chicken nuggets that could contain rubber, the poultry giant is recalling chicken strips that might contain metal. 

> Keep Reading
News Release | U.S. PIRG Education Fund | Consumer Protection

Boeing Max planes have ‘optional’ safety mechanisms

Newly-revealed details by the New York Times about of the crash of two Boeing 737 Max 8 planes may stun even the most hardened observer. The planes lacked a safety feature that may have warned pilots about problems because it was not required and Boeing charged airlines extra to include it. Adam Garber, U.S. PIRG Education Fund Consumer Watchdog issued the following statement.

> Keep Reading

Pages

News Release | Illinois PIRG Education Fund | Consumer Protection

Struggling Peoples Gas pipe program once again over budget, behind schedule

As its long-troubled pipe replacement program comes under increased scrutiny from the Chicago City Council, Peoples Gas filed its first 2019 quarterly program report to the Illinois Commerce Commission Wednesday. It shows that the program is once again over budget and behind schedule. Adding insult to injury, at least 7 percent of the average March residential customer bill is going toward pipe replacement work.

> Keep Reading
News Release | U.S. PIRG Education Fund | Consumer Protection

Fisher-Price recalls nearly 5 million potentially deadly Rock n’Play sleepers

Fisher-Price recalled 4.7 million Rock n’Play baby sleepers on Friday. U.S. PIRG Consumer Watchdog Adam Garber issued a response: "“While we’re pleased that Fisher-Price is finally recalling these dangerous sleepers, 30 deaths in 10 years is 30 deaths too many and 10 years too late."

> Keep Reading
News Release | Consumer Protection

Statement on Wells Fargo’s response to “Debit Cards on Campus” report

Read U.S. PIRG's statement on Wells Fargo eliminating some fees for student on debit cards.

> Keep Reading
News Release | U.S. PIRG Education Fund | Public Health, Consumer Protection

Tyson chicken strips recalled, may contain pieces of metal

Just seven weeks after Tyson Foods recalled chicken nuggets that could contain rubber, the poultry giant is recalling chicken strips that might contain metal. 

> Keep Reading
News Release | U.S. PIRG Education Fund | Consumer Protection

Boeing Max planes have ‘optional’ safety mechanisms

Newly-revealed details by the New York Times about of the crash of two Boeing 737 Max 8 planes may stun even the most hardened observer. The planes lacked a safety feature that may have warned pilots about problems because it was not required and Boeing charged airlines extra to include it. Adam Garber, U.S. PIRG Education Fund Consumer Watchdog issued the following statement.

> Keep Reading

Pages

Report | Illinois PIRG Education Fund | Consumer Protection

Trouble in Toyland

For over 30 years, U.S. PIRG Education Fund has conducted an annual survey of toys to look for safety problems. This research has led to more than 150 toy recalls and other regulatory actions over the years. Our work has also helped educate the public and policymakers on the need for continued action to protect the health and well-being of children. This year, we celebrate the 10th anniversary of the Consumer Product Safety Improvement Act (CPSIA) passing, which strengthened protections against dangerous consumer products. 

> Keep Reading
Report | Illinois PIRG Education Fund | Consumer Protection

Trouble in Toyland 2017

For over 30 years, U.S. PIRG Education Fund has conducted an annual survey of toy safety, which has led to over 150 recalls and other regulatory actions over the years, and has helped educate the public and policymakers on the need for continued action to protect the health and wellbeing of children.

> Keep Reading
Report | U.S. PIRG Education Fund | Consumer Protection

Lead In Fidget Spinners

While lead in toys has become less prevalent in recent years, U.S. PIRG Education Fund tested several models of one of today’s hottest toys, fidget spinners, for the toxic heavy metal. Laboratory results indicated that two fidget spinners purchased at Target and distributed by Bulls i Toy, L.L.C. contained extremely high levels of lead. U.S. PIRG Education Fund calls on Target and Bulls i Toy to immediately recall these two fidget spinners and investigate how such high levels of lead were found in these toys. Also, we call on the U.S.

> Keep Reading
Report | Illinois PIRG Education Fund | Consumer Protection

Older Consumers in the Financial Marketplace

Older Americans are at risk of harm from predatory financial behavior. An analysis of more than 72,000 financial complaints submitted by older Americans (those 62 years of age and older) to the Consumer Financial Protection Bureau (CFPB) and contained in its Consumer Complaint Database suggests that mistreatment of older Americans by financial companies is widespread.

> Keep Reading
Report | Illinois PIRG Education Fund | Consumer Protection

Protecting Those Who Serve

An analysis of more than 44,000 complaints submitted by active duty servicemembers and military veterans to the Consumer Financial Protection Bureau (CFPB) and contained in its Consumer Complaint Database finds that mistreatment of servicemembers by financial companies is widespread.

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Pages

Blog Post | Consumer Protection

ID Theft & Privacy Checklists | Mike Litt

Today, we're releasing our revamped Identity Theft and Online Privacy resources.

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Blog Post | Consumer Protection

Protecting Consumer Privacy in the Courts | Abe Scarr

 

Along with other consumer and privacy advocacy organizations, we filed an amicus brief defending Illinois' unique-in-the-nation biometric privacy law.

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Blog Post | Consumer Protection

The most efficient policeman | Abe Scarr

This morning, Illinois PIRG Education Fund and Glidepath Development, a renewable energy and energy storage developer, filed a complaint in Cook County Circuit Court against the Illinois Commerce Commission. The complaint alleges that the Commission has violated the Illinois Open Meetings Act in its management of the Next Grid study.

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Blog Post | Consumer Protection

Update on Troubled Peoples Gas Pipe Replacement Program | Abe Scarr

This morning, the Illinois Commerce Commission (ICC) approved a settlement regarding 2014 spending on its troubled pipe replacement program. The settlement itself is a good outcome for ratepayers, but a far cry from the necessary reforms to the pipe replacement program itself.

> Keep Reading
Blog Post | Consumer Protection

Public Comment on the Peoples Gas Accelerated Main Replacement Program | Abe Scarr

I prepared a public comment before the Illinois Commerce Commission, opposing their plan to approve an increase in spending on the troubled Peoples Gas pipe replacement program. The Commission denied my request to make an oral comment. They did not give me a reason why.

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Pages

News Release | Illinois PIRG Education Fund

As its long-troubled pipe replacement program comes under increased scrutiny from the Chicago City Council, Peoples Gas filed its first 2019 quarterly program report to the Illinois Commerce Commission Wednesday. It shows that the program is once again over budget and behind schedule. Adding insult to injury, at least 7 percent of the average March residential customer bill is going toward pipe replacement work.

News Release | U.S. PIRG Education Fund

Fisher-Price recalled 4.7 million Rock n’Play baby sleepers on Friday. U.S. PIRG Consumer Watchdog Adam Garber issued a response: "“While we’re pleased that Fisher-Price is finally recalling these dangerous sleepers, 30 deaths in 10 years is 30 deaths too many and 10 years too late."

News Release

Read U.S. PIRG's statement on Wells Fargo eliminating some fees for student on debit cards.

News Release | U.S. PIRG Education Fund

Just seven weeks after Tyson Foods recalled chicken nuggets that could contain rubber, the poultry giant is recalling chicken strips that might contain metal. 

News Release | U.S. PIRG Education Fund

Newly-revealed details by the New York Times about of the crash of two Boeing 737 Max 8 planes may stun even the most hardened observer. The planes lacked a safety feature that may have warned pilots about problems because it was not required and Boeing charged airlines extra to include it. Adam Garber, U.S. PIRG Education Fund Consumer Watchdog issued the following statement.

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