Credit card holder bill of rights closer to becoming law

by: Justin Lynch

It seems like most of the provisions in this bill will be good for students, including a 90-day notice (doubled from 45) when people are going to get an interest rate hike and banning credit cards for those younger than 18. There are arguments that this bill will restrict credit even more in a tight credit market, but this bill won't go into effect for at least a year, when most economists say the recession will be over. There needs to be some more regulation to help out the average American that holds $10,679 in credit card debt.