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Wednesday, May 23rd 2012

Video: Big changes coming to bad-credit credit cards

By Tyler Metzger

The new credit card law -- much of which takes effect on Feb. 22 -- has provisions that protect people with bad credit. Specifically, the law limits fees on subprime credit cards. The law does not, however, cap interest rates, which can reach 80 percent or higher. What other changes will the law bring for those with poor credit? Check out the video below.

And for even more on credit card reform, check out our special section.


Updated: February 20, 2010

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Credit Card Rate Report

Updated: 05-23-2012

National Average 14.93%
Low Interest 10.40%
Balance Transfer 12.46%
Business 12.75%
Student 13.77%
Cash Back 14.24%
Airline 14.63%
Reward 14.73%
Instant Approval 15.49%
Bad Credit 23.64%

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