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According to Scott Svonkin, Koretz's chief of staff, the law restricts credit card companies from offering free gifts to students when they fill out applications for credit. However, the real teeth of the legislation never made it into the final draft of the bill, Svonkin said, when Koretz tried to place a $1,000 credit limit on cards applied for on college campuses.
If you discoverthere is noway that you can pay off your credit balances (not including a mortgage) in five years or less, it's probably a good idea to talk with a credit card complete debt consolidation counseling agency like complete debt consolidation Counselors of America.
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