Banks may be hiking interest rates, fees and penalties, but they're also eager to show that they aren't totally insensitive.
For some financially strapped customers, card issuers are reducing interest rates, suspending late and over-limit fees, and extending repayment terms. Bank of America, for example, says it has modified the terms for 1.8 million of its 70 million cardholders worldwide since the beginning of 2008.
| Row 0 - Cell 0 | New Rules of Credit Cards |
| Row 1 - Cell 0 | Best Cards for the Way You Spend |
| Row 2 - Cell 0 | QUIZ: The Truth About Credit and Debt |
One source of help is the new Web site Help With My Credit, which is sponsored by Visa, MasterCard, Bank of America, Capital One, Citi and Discover Card. If you call the toll-free number, 866-941-1030, you will be connected either to your credit-card company, where you will learn about your issuer's options, or to a credit counselor, who will offer you a free session. Chase and American Express, which are not participating, say cardholders should call the toll-free number on their cards for help.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Last fall, the National Foundation for Credit Counseling, which represents nonprofit credit-counseling agencies, asked credit-card issuers to modify their debt-management plans to allow more consumers to benefit. The ten largest card issuers agreed to lower interest rates and minimum payments as well as to waive late and over-limit fees for participants. To join the program, you must be referred by a credit counselor. Call 800-388-2227 or visit www.debtadvice.org to find a credit-counseling agency near you to see whether you qualify.
-
Should You Renew Your CD?With rate cuts impacting earnings, we examine if now is a wise time to renew CDs.
-
7 Ways to Plan Now to Save on Medicare IRMAA Surcharges LaterUnderstand the critical two-year lookback period and why aggressive planning before you enroll in Medicare is the most effective way to minimize IRMAA.
-
Law Reversal Looming? Trump Eyes 2026 Gambling Winnings Tax ChangeTax Deductions It's no secret that the IRS is coming after your gambling winnings in 2026. But how long will that last?
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2026Roth IRAs Roth IRAs allow you to save for retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Does Amazon Prime Day End in October? Everything We Know, Plus the Best Deals on Samsonite, Samsung and MoreAmazon Prime The Amazon Prime Big Deal Days sale ends soon. Here are the key details you need to know, plus some of our favorite deals members can shop before it's over.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
