Credit Card Changes February 2010 – New Credit Card Laws and Rules to Help Interest Rates

Posted on | February 22, 2010 | No Comments

Starting February 22nd, 2010 there are going to be credit card changes.  The new credit card laws and rules are designed to help consumers better understand interest rates.  Many consumers do not realize what interest rate is being applied to their credit card and they rarely know when this interest rate is adjusted.  With the Credit CARD Act becoming law on February 22nd, 2010 consumers will much better understand interest rates on credit cards.


It will no longer be the case that credit card companies can adjust your interest rate without giving you notice.  You will receive a 45 day notice before your interest rate can be adjusted higher.  It will also no longer be the cast that your interest rate can be adjusted higher because of missed payments that are not directly involved with that particular credit card company.

Over the next few days many news reports and articles will be produced on the Credit CARD Act.  Make sure to educate yourself about your rights as these new rules could help you get out of debt much quicker than prior to the new laws.  As always, make sure that all your credit card bills are paid on time and in full so you do not see these notices that your interest rate is going to be increased.

Author: Jeremy North

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