New Credit Card Rules

Welcome to the "new world of credit cards"! What's so new? New rules set by the CARD Act which attempts to make the experience of being a credit card user less onerous.

Here's a look at some of the changes that take effect Monday:
- Interest rates can't be raised on existing balances
- Due dates must be the same every month.
- Firms can't charge overlimit fees without your permission.
- No more two-cycle billing.
- Minimum payment disclosures.
- No marketing to college kids.

Here's hoping that these new rules really do improve things for consumers, and are not overwhelmed by unintended consequences.