So far, over 30,000 people have sent stories to the federal banking regulators who are working to reduce credit card abuses. The Consumer’s Union has a simple form to allow you to send your story to the Federal Reserve here. But you only have until August 4th — that’s Monday — to make sure your comments are heard.

The Federal Reserve already has some proposals that they’re considering to drastically cut the opportunities for credit card companies to abuses their customers: federal banking regulators want to stop credit card companies from raising interest rates on existing balances. They also want to stop the common practice of applying your monthly payment to the portion of your debt with the lowest interest rate, a technique that helps credit card companies make more money off the amount you owe. They are also looking at ways to prevent companies from sending bills that you literally cannot pay in time — you know, those frustrating bills that you get the day they’re due, or even after the due date. You can also comment on these proposals through the same form, and even make suggestions, if you would like to.

Personally, there is one credit card practice that I think absolutely needs to be prohibited: most credit card companies charge you a fee if you pay your bill online or by phone. Your payment is more likely to arrive late if you send it in by mail; there are just more opportunities for delays, human error and factors you can’t control. That means that credit card companies are more likely to get late fees if you mail a check than if you make a payment online. It seems like credit card companies are trying to set us up for failure. Unfortunately, the Federal Reserve isn’t currently considering making a change to the laws governing payment methods.

There are also a few other suggestions that consumer advocacy organizations, such as the Consumers’ Union, would like to see on the agenda, but aren’t there yet. If any sound like a good idea to you, you might consider submitting comments to that affect.

• Limiting high “penalty” rates, and how long a card issuer can keep you at those levels.
• End random changes in interest rates for future purchases “at any time for any reason.”
• End all retroactive interest rate hikes, even if there has been one payment that is 30 days late.
• Prohibit account-opening fees that are more than 10 percent of the
  credit limit, rather than the Fed’s proposed 50 percent. Multiple
  over-limit fees also should be banned during a single billing cycle.

Any comments that you submit will become part of the Federal public record, along with your name and contact information. That’s because the Federal Reserve is using these comments to guide public policy and must be transparent about their actions. However, if you are concerned about your name appearing on such government documents, you may chose not to share your comments and stories.