Secured credit cards discussion
Some credit card companies already offer this option at their discretion. The Credit CARD Act of 2009 turns the option into a universal consumer right. Big changes! And even more profound changes are coming soon. But take care: Credit card issuers are rushing to amend their terms before the Credit CARD Act of 2009 changes the rules. Consumers report cancellations of credit card accounts that they believed were in good standing, and companies are pushing through a wave of fee and interest rate hikes.