Biz: The final stage of the Credit Card Act of 2009: The big changes
- one The law limits the penalty fees on credit cards so that you’re not paying a $20 penalty for a $5 overage.
- twoOther fees will disappear, too: You can’t get punished for not using your card for a while anymore.
- threeAnd if you buy a gift card starting today, the balance will be active for a full five years after you buy it.
- fourFinally, if a card company raises your interest rate for any reason, they have to tell you why. source