CREDIT CARD UPDATE:

Credit card companies introduce cards with simpler terms. Chase and Bank of America are among them - flat rates, rates can still go up.

"Congress is considering three bills that would regulate the so-called interchange fees -- which generally amount to 1 to 2 percent of a total sale and totaled $48 billion in 2008. Meanwhile, the Government Accountability Office is doing a study of the fees, as required by a law signed by President Obama in May that bans many unfair credit card industry practices." If we paid the same interchange fee amounts as they do in Australia, we'd save $125 billion. The money usually goes to an outside bank.

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