If you're packin' plastic, take note: The last major round of changes to how we use our credit cards goes into effect today.
Aimed at protecting consumers, the rules enacted by Congress last year put restrictions on how credit card companies can assess late fees, hike interest rates and handle billing, among the major provisions.
The changes "put consumers squarely in the driver's seat by restricting fees and requiring clearer rules and improved disclosures," said Kenneth J. Clayton, American Bankers Association senior vice president, in a statement. "We believe the new law will make it easier for consumers to understand and meet their credit obligations."
Read more: http://www.sacbee.com/2010/08/22/2973140/personal-finance-more-credit-card.html#ixzz0xLwRFpKO