First Phase of Credit CARD Act Goes Into Effect Next Month

This is a guest post by Bill Hardekopf, CEO of LowCards.com . The majority of provisions in the Credit Card Accountability, Responsibility and Disclosure Act (the Credit CARD Act) take effect in February 2010. But a few key provisions go into effect on August 20, 2009. One helpful provision that starts next month requires credit card issuers to give 45 days notice before any rate hike. This may be small comfort to the many cardholders who have experienced interest rate hikes over the past y