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Video: Big changes coming to bad-credit credit cards

Summary

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. What other changes will the law bring for those with poor credit?

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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.

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