The Credit Card Accountability, Responsibility and Disclosure, or Credit CARD Act of 2009 will bring about sweeping changes in the credit card industry.
The new reform might bring about a greater transparency and easier-to-understand terms, but at a higher cost. Industry analysts claim that the new law will make credit cards more expensive for all users and unaffordable for the mid-level income group and people with bad credit. Let us understand what this reform means to you as a consumer.
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