New Credit Card Laws

New credit card laws became effective on February 22, 2010. I missed it and maybe you did, too. The reason these new laws didn't receive much fanfare is that they're nothing to brag about. Credit cards have long been a way to rip consumers off and these new laws don't help the consumer all that much. I used to use credit cards frequently and I paid the bills without much notice to the interest rate I was paying. Then one day I decided to take control of my financial situation. I looked at my credit card bills and was shocked at the rates. I started that day to pay large enough payments to pay the cards off quickly. Once they were paid off, I never carried a balance on them again. When I did use them for warranty purposes, I would go home and send a check to pay the full balance the same day. There are many ways to get in trouble financially and credit cards are something to fear. Here is a link to information about the new credit card laws.