Elastic Credit with New Credit Card Laws

Credit cards have long been a source for quick and easy cash when needed—making this type of credit very elastic. Credit cards are getting a facelift with the new credit card laws, which makes credit card purchases and cash advances more elastic than ever before.

One way that credit cards are becoming more appealing to cardholders is due to the new credit card laws passed by the Federal Reserve. The new credit card laws help to protect consumers from being charged high late and penalty fees by card issuers. The changes are due to take effect on August 22, 2010 and are the closing act to the Credit Card Accountability and Disclosure Act introduced by Congress in 2009.

New Credit Card Fee Limits

Credit card issuers can no longer set and charge their own rate fees. The new credit card laws limit late payment fees to a maximum amount of $25. The only exception is if a cardholder has made a late payment in the previous seven months, then the late fee limit does not apply. The penalties charged by the card issuer also have to be proportionate to the minimum payment due. For example, if the minimum payment due is $15 and the cardholder makes a late payment, the card issuer can only charge a late fee of $15. Cardholders who have credit cards that they do not use also do not have to worry about being charged fees for inactivity because inactivity fees are eliminated with the new law.

How to Learn Real Estate Law

Real estate law involves dealing with both commercial and residential property, finalizing transactions and finding potential issues, looking into property regulations and boundaries. You can learn real estate law on your own.

Step 1

Research online law libraries. They provide a wealth of information, explaining the facets of law and providing further reading resources for you to look into.

Step 2

Take note of further resources that directly apply to the category of real estate law you’re looking into. If you are researching landlord-tenant law, for example, take note of all the resources you find on that subject. Studying all the information you can find will prove to be advantageous when you apply it in a real-life situation.

Step 3

Visit your state’s real estate commission. You’ll gain knowledge about real estate laws, regulations and requirements for licensing.

Step 4

Consider taking advantage of free real estate advice online. You can not only read online articles that keep you up-to-date on all of today’s real estate information, you can ask questions regarding home selling and buying to get answers from real estate professionals in online forums and on blogs kept by real estate professionals. Select your location and find professionals and stores of information close to you.

Step 5

Look into online universities with courses in real estate law. Courses might cover real estate contracts, closing property transactions and learning how to read a survey. You’ll be able to study from the comfort of home. There will more than likely be a small fee for each course you take.