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More credit card changes
Posted: 08.22.2010 at 9:44 PM
Updated: 08.23.2010 at 6:10 AM
Romney Smith

Romney Smith is a news anchor and reporter with FOX 31 News

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Final phase of credit card act goes into effect Sunday

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ALBANY, GA. -- The last batch of consumer protection rules went into effect Sunday August 22, 2010.

The rules include four main areas that include the following changes:

  • $25 maximum late fee
  • Ban on inactivity fees
  • If a shopper exceeds their credit limit the fine cannot exceed the excess amount
  • If an interest rate is increased it must be reviewed every six months

For more information on the changes Click Here.

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