money.affsaltra.net

While the new regulations set forth in the Credit Card Act of 2009 came into effect on February 22, 2010, the credit card companies will now have to conform to stiffer rules when it comes to increasing rates, altering payment due dates and other problematic practices from the past. These new regulations along with the long-term recession that has customers using less credit and more cash, has deeply affected the profits of the credit card companies.