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The Credit Card Empire Strikes Back!

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Many of you may have heard about all the wonderful changes in credit card policies that were signed into law earlier this year. The first part of the law, which took effect in August, requires banks to give customers more notice ahead of major changes to their accounts, like rate hikes.

Starting in February, limits will be imposed when issuers can raise rates on existing card balances, and on new cards. In August 2010 some credit card penalty fees will be reined in. These changes were put in place so that the credit card companies would not be able to take unfair advantage of their consumers.

This was a great thing; finally the little man would have a chance, well that was until the credit card companies found a way around the new policies. They are using some dirty tactics so that they can continue to get huge profits off of us so be careful and always read the fine print.

Here are the top five things credit card companies are doing to hit you hard according to a recent yahoo article found here.

As always we would love to hear what you think about this and if you have seen any of the recent changes to your credit card. So please leave a comment.