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  • Writer's pictureVincent Tubiana

The Final Credit Card Act Rule protects consumers from abusive practices by credit card issuers

The Act was implemented to address interest rate increases, interest calculations, card issuance and fees. Some examples of these new rules include limitations under which a lender can apply increased interest rates or fees to existing balances; an analysis by the issuer to determine whether the consumer has the ability to pay prior to opening a new account or increasing the credit limit; limitations to marketing credit cards to college students, as well as issuing credit to consumers under the age of 21; and obtaining expressed consent by consumers before imposing any fees in excess of the credit limit.


These amendments and provisions became mandatory as of July 1, 2010. If a consumer in the Florida Keys or Key West is experiencing abusive practices from credit card issuers, and/or having difficulty managing their debt, it’s best to consult with an attorney knowledgeable in consumer protection law in order to obtain an explanation of your rights.


Consult our law firm at 305.451.0013 for a confidential consultation. We will review your situation and provide you information on your legal rights, options and responsibilities.

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