New credit card regulation offering hits and misses Updated: Tue, Feb 22, 2011 Fewer interest rate hikes and less in late fees are among the benefits to credit card customers, a year after new regulations curbed a spate of questionable billing practices. Federal officials say over-the-limit penalty charges also have been dramatically curtailed. The findings were released by the newly created... Read More

New Gift Card Rules and the Upcoming Holidays Published: Tue, Oct 19, 2010 If you've been following this column for a long time, you know that I am not a fan of gift cards: 1) Most gift cards are good in only one store. 2) That store could go bankrupt, making that gift card useless. 3) It is impossible to spend a gift card to the penny; you either leave a bit on the card to be lost forever... Read More

Beware of Credit Card Changes Under New Law Published: Wed, Feb 10, 2010 If you've been living in a house of cards, read carefully. Just three weeks from now — on Feb. 22 — the Credit Card Accountability Responsibility and Disclosure Act (CARD Act) of 2009 goes into effect. Beware. Along with some new protections, the rules allow for more subtle and costly traps for unwary... Read More

Why You Should Use Your Gift Cards Soon Published: Tue, Dec 22, 2009 Remember last May, when the president signed the Credit Card Accountability Responsibility and Disclosure Act of 2009? Yes, that one. It's the law that is designed to protect credit card holders but does not fully go into effect until August 2010. It's the one that gave banks a 15-month heads-up, during which... Read More

Why You Can't Afford Credit Card Debt Published: Thu, Nov 19, 2009 Last year, the Federal Reserve Board announced new rules for banks that issue credit cards. The rules will remove unfair credit card practices. Months later, Congress passed into law the new Credit Card Accountability, Responsibility and Disclosure Act of 2009. Both of these become effective in February. That's like... Read More