If your interest rate has ever increased because you were “late” one time or you were charged a high fee for being over-the-limit on your credit card account – times are changing. On Monday, February 22, 2010, the long awaited Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) goes into effect. As a consumer, this is GREAT news.

The Credit Card Accountability, Responsibility and Disclosure Act, recently signed into law, will provide new credit protections for consumers beginning in February 2010.   The act is designed to strengthen the credit market by ending unfair rate hikes, hidden fees, misleading practices and by adding transparencies and accountability.   Here are some highlights of the act:
Protection for [...]