The Credit CARD Act will institute common sense, pro-consumer reform like requiring advance notice of interest-rate increases, banning the practice of universal default, and protecting young people from unscrupulous lending practices.

This critical legislation is set to go into effect in February 2010 to allow the credit card companies time to update their systems and implement the new policies. Sadly, they are using this time to game the system.

This was plagiarized word for word from Colorado U.S. Senator Mark Udall.  I apologize for that, but this is important!!