Consumers and lawmakers alike are fed up with exorbitant fees so well hidden in fine print, it’s a game of “Where’s Waldo.” But it could take a while for any changes to happen on a federal level, so find out what you need to do to avoid getting slammed with fees.
Credit cards are a huge deal. It's been my only source of good credit for a while, now I'll start paying loans and they should start helping my credit too. I heard that some of the legislation passed included some sort of an incentive for card companies to make the terms of agreement easier to read, both in format (not 6-point font) and in language (so that the average person can easily understand it). Boy won't that be nice because I've been through college and still have trouble getting through one of those little booklets. Also, LOWER YOUR RATE by simply calling your credit company and asking what the current rate is then asking if it can be lower, maybe even at the expense of lowering the limit...
Also be smart. Save money in an online bank where it actually can gain some interest (4-5%) until you have to make your credit card payment before it gains any interest... not a bad idea to have paycheck direct deposited into said online high interest acct. My credit card allows me to pay directly from my online savings acct so it happens pretty smoothly. good luck.