As a U.S. citizen, I know that the long-term solution for the types of credit card problems that consumers in the U.S. are having depends upon the U.S. Congress passing credit card reform legislation.

After years of seeing Congress cave in to credit card industry lobbyists, Senators Carl Levin, (D-Michigan) and Claire McCaskill (D-Missouri) introduced a bill to Congress to increase the transparency of credit card company operations.

Unfortunately, due to the pressure of credit card lobbyists, there wasn't enough support to pass it.

If it had been passed, cardholders wouldn't need industry insiders to act as whistleblowers. (And I wouldn't have to stoop to the absurdity of calling my colleague "Agent 0016" for his protection in order for you to get a fair deal with your credit card company.) Fairness and transparency would, instead, be the law.

The following were the provisions of the bill:

• Prohibit adding "trailing interest" charges on any portion of card debt that was paid on time and in full.
  
  
• Confine rate increases on fixed-rate accounts to expirations of introductory rates or to card holders who pay late or otherwise break a card agreement. Variable-rate accounts would face similar limits, though the rate could also go up if the prime rate or other benchmark rate goes up.
  
  
• Require that new interest rates apply only to debt incurred after the rate changed.
  
  
• Prohibit interest charges on late fees and over-the-limit fees.
  
  
• Require an issuer to offer the option of operating under a fixed credit limit that can't be exceeded.
  
  
• Prohibit a fee for paying a bill by mail, phone or electronic transfer.
  
  
• Require payments to be applied first to the card balance with the highest interest rate.
  
  
• Bar interest charges on any portion of credit card debt that has been paid on time during a grace period.

While that bill was stalled and did not pass, some changes may be on the way.

At the end of September 2008, The House of Representatives passed The Credit Card Reform Act of 2008. The bill has been sent to the Senate. Since the mega lenders are all major campaign contributors and have lobbyists working to keep support from building for the bill, and Congress is getting ready to recess, your U.S. senators need to hear from you NOW.

So I urge you to copy and paste the points above into a letter and mail it to your two U.S. Senators. Request that each of your legislators support HR 5244, The Credit Card Reform Act of 2008 and if any of the provisions above are not included in that bill, to demand an amendment to include them.

I'm including two links below, one for the U.S. Senate and the other for the U.S. House of Representatives, so you can find the names and addresses of your representatives.

Please note that most of those in Congress now provide an on-line form by which you can send them comments.

However, since a physical letter means a lot more to them (because of the extra effort it takes), we ask you to please dig deep and make that effort even though we know you're short on time, and maybe energy.

If you take the time now to create change, then in the long run you'll save time, energy and money because less of your time will be spent working to pay the high interest and punitive fees that feed the credit card industry monster.

Because while "profit" is not a dirty word for the majority of the American people, "unfairness" still is. (And thank God, because that means there's hope.)

FIND YOUR U.S. SENATOR    FIND YOUR U.S. REPRESENTATIVE

Together we can help level the playing field. Remember it's not your fault that we live in a society in which we need credit cards.

But the more you reduce credit card debt in your own life, and the less money you pay in finance charges, fees and for extra "plans," the less money credit card companies will have to lobby for laws that permanently indebt you and other consumers.

So, as we wait for Congress to act, be sure to visit the excellent links in our sidebar, read the tips posted on our blog, and refer others who want or need credit card help to this site.

It's important that we work together to get good, solid information to our family members, friends and neighbors. For those who need to get out of debt, credit card debt is creating pain for them and affecting the U.S. economy. Credit card debt is through the roof and millions need credit card debt relief; so mail your letter.

Thanks for reading this. I know your time is precious.