As most of you are aware the Credit Card Reform Act of 2009 recently passed. Without going into detail, one of the main problems with the Act is good credit card customers will soon be subsidizing the risky customers. Some of the most talked about changes are....
No more grace periods on purchases (interest starts as soon as the card is swiped)
Charging Annual Fees (some cards have been doing this, but plenty do not)
Lowering Credit lines (which will hurt your credit score)
No more Rewards/Cashback perks
....As most of you are aware, good customers are called "deadbeats" by the CC industry. Hopefully the market will correct this by some niche CC company stepping in and gladly taking in all the good customers without changing the current set up. Sucks that I am possibly going to have to close out some of my older credit lines (also hurts score) to switch over to another company who doesn't try to jew me. Thoughts/Opinions