From: XXXX Sent: December-04-13 4:23 PM To: Consumer Code / Code consommateur Subject: New Credit Card Rules A more important rule has been ignored, the ultra extravagant interest rate charged, way exceeds all reasonable rates. Some charge 2.5% compounded monthly! this is more than about 37% annually if compounded annually. Even 30% would be a killing for those poor needing financing. I personally do not knowingly charge any interest bearing credit card transaction. Although my bills are paid automatically, I was charged a huge interest after I believed an offer from a Credit Card of zero % interest on advanced loan for one year. What actually was that they charged 1% in advance as administrative fees then charged 30% on the purchases (actually 37% as explained above) as they charged then interest on the already paid at end of each month on the purchases. Reading the fine print, they gave themselves that right, as they charge interest on the "highest interest bearing portion" of the statement. So they charged 1% then compounding it at 37% plus an additional 37% on the purchases that were automatically withdrawn from my Bank account, because of this "fine print" till I discovered it and paid everything including the "interest free advance" which I actually did not need. FINE PRINT IN CREDIT CARDS SHOULD BE BANNED, TOTALLY BANNED.