New Credit Card Law Starting To Affect Credit Card Companies

Issuers of credit cards have started re-doing their terms and conditions in anticipation of recently passed legislation taking effect which prohibits some of the more egregious terms from credit card agreements.

Watch for non-descript black and white mailings that contain a small brochure with fine print.  These are likely the new terms and conditions for your existing credit cards.  Make sure you read them over and see what is changing.

There is nothing in the new credit card law that says your credit card company can’t change something else to make sure that you stay a cash piñata to the banks fee revenue streams, so don’t assume that everything else is staying the same.  We’ll keep our eyes out as the new terms and conditions roll out and let you know if we spot anything big or any sort of trends.

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