USC Credit Union Web Site
Article Links
What's New
Auto Loan Sale
Until Dec. 31!
Football Season is in
Full Swing
Credit Card Act
Now in Effect
Great Opportunities
for Homebuyers
Special Benefits for
Small Business Loans
USCCU Platinum
Are Credit Union
Members Smarter?
Kids headed back
to school?
Smarter Holiday Shopping
2010 USC Credit Union
Annual Meeting
Holiday Closings

Thursday & Friday
November 25th and 26th

Christmas Eve
Friday, December 24th

New Year's Eve
Friday, December 31st


What does the Credit CARD Act mean to you?

The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 makes credit card terms easier to understand, especially penalty fee triggers. It also limits interest rate hikes and excessive fees.

• More time to pay from the day you receive your bill.
• More advance notice of any changes.
• Fewer “gotchas” as consumers can opt out of significant changes.
• $25 limit on late payment fees.
• Limited “universal default” — raising rates on a card because of problems on other, non-related cards.

USC Credit Union has never engaged in the questionable credit card practices that led to this consumer protection legislation. We are proud of the fair and honest value we’ve always given the Trojan Family. For example, check out our new USC Credit Union Platinum MasterCard.

How young people are affected (Hint: No more swag!)

Credit card issuers used to trap young, inexperienced borrowers with credit cards that had high rates and fees, leading many college students into deep debt. Under the new regulations:

If you’re under age 21, you must have a co-signer, or prove you can make the payments.
Card issuers can no longer offer free t-shirts, pizzas, water bottles, or other swag to entice students to apply for credit.

Back to Top

University Park Campus
MC 2280 · King Hall · 2nd Floor
213.821.7151 [fax]
Health Science Campus
SRH · 1969 Zonal Ave · Suite 1018
323.442.3348 [fax]
Flower Street Branch
3720 S. Flower St · Los Angeles, CA 90089
213.821.7151 [fax]

Published by USC Credit Union
Copyright © 2010 USC Credit Union. All rights reserved.

Newsletter Archives