No Interest No Payments...No More

No Interest No Payments...No More as of Feb. 22nd

Furniture commercials will never be the same because as of February 22nd you will no longer see "no interest and no payments" in the advertising. The reason is that as part of the Credit Card Act creditors must make major changes in their advertising and disclosures when extending credit to consumers.

Among the changes:

- Ads cannot say that financing is 0% when indeed it is not.
- Warnings added in the statement before the deadline for repayment
- No more sudden rate hikes

The changes were made to help protect consumers. The deals are so appealing but consumers often neglect to read the fine print and find themselves owing much more money than they thought because they missed a payment or did not fully understand the terms.

I know one thing, all the furniture commercials during the evening news will forever be changed.

For more information visit CreditCards.com for further details.