Posted byon May 20, 2009
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The Senate passed the new Credit Cardholders’ Bill of Rights Act of 2009 yesterday. After the new credit card bill is worked out with the house, and the President signs it, the changes take effect in one year.
Here is a summary of the changes included in the new credit card bill:
There is a lot of speculation about what this will do to rewards cards, and other credit card perks. I think we’ll have to wait and see!
In the meantime, you can read the full text of H.R. 627: Credit Cardholders’ Bill of Rights Act of 2009.
Source: Consumer Reports