New Credit-Card Rules Kick In

The first wave of long-awaited reforms to credit-card industry practices began kicking in on Aug. 20. Under the new rules, credit-card issuers now have to give consumers far more notice before raising their interest rates or hiking fees. Before any changes to fees or rates can kick in, credit-card issuers have to give cardholders 45 days' notice. The new laws also make it harder for cardholders to incur late-payment fees; all bills must be sent to consumers 21 days before payments are due.

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