Consumers Win With New Credit Card Rules

Regulators passed laws last week that make it harder for credit card companies to make a bundle off of consumers.

The new rules, under "The Credit Cardholder's Bill of Rights Act of 2008", restrict several practices that always seem to work out in the bank's favor. Among the changes, banks need to give you more time to send your payments in, and they can't increase your rates as easily.

Unfortunately for consumers, the changes don't go into effect until July of 2010. That means you need to stay vigilant about these practices until then.

For more details, see our Credit expert's review of the new credit card rules.

What do you think about the changes, and what did they leave out? Tell us about it in the comments.