Senate: Vote YES for Credit Card Reform!

Subject: Pass S. 414 now, with earliest effective date

Dear [Decision Maker],

As your constituent, I urge you to pass S. 414, the Credit CARD Act, without any weakening amendments and with the earliest possible effective date. Several major banks just hiked interest rates and fees on millions of our credit cards, including good customers who pay on time each month. These abuses tactics must stop -- they are bad for me, and bad for our economy.

[Your personal comments will be added here.]

Responsible credit card consumers shouldn't be subjected to out-of-nowhere interest rate increases and fees. But the card companies are arbitrarily hiking interest rates on our existing balances -- even those who make payments on time -- just because of an "anytime/any reason" clause in the contract. S. 414 would prevent my card company from changing the rules of the game midstream, and give me the deal I signed up for.

The bill also would require card companies to apply my payments more fairly across my different balances, not just to the lowest-interest balance. And S. 414 would curb the aggressive marketing of credit cards to those younger than 21. That's just common sense.

The banks are claiming that if they can't do whatever they want to their own customers, our economy and consumers will suffer. The reality is, these abusive practices are damaging not only my finances, but our nation's economic recovery. The more I pay in higher interest rates and fees, the less I have in my pocket to spend on mine, and my family's needs, and contribute to our economic recovery.

The banks already received billions in taxpayer bailouts, and they can borrow money for next to nothing. Now they're driving Americans deeper into debt by piling on interest rate hikes and new fees. I urge you to give Americans real financial help, and pass S. 414 without any weakening amendments, and to implement the reforms as soon as possible.