06/03/2011 - Households receiving offers for "business" credit cards would be wise to throw them away, a nonprofit research group is warning consumers.
Business credit cards are marketed to corporations, small business owners, sole proprietors and individuals who may want to use the cards to keep track of work-related expenses. The cards generally offer enhanced bookkeeping services to help categorize and monitor transactions.
Trouble is, business cards aren't covered by consumer protections under the credit card reform act, which took effect in 2009 and 2010.
Practices that federal regulators consider unfair and deceptive that are banned by the card act "remain widespread in business credit cards that are regularly offered to American households," according to a report released last month by The Pew Charitable Trusts in Washington, D.C.
Read the full article Business Credit Cards Provide Few Safeguards on the Pittsburgh Post-Gazette's Web site.
Pew is no longer active in this line of work, but for more information visit the Safe Credit Cards Project on PewHealth.org.