The Credit Card Accountability, Responsibility and Disclosure Act or the CARD Act is now 1 year old. While the most sweeping changes of the law did not go into effect until February 22, 2010 the law itself went into effect in May 2009. More changes according to the law will go into effect later on in August 2010, ending the 15-month implementation plan for the law.
But nearly ? of all American credit card holders are pleased with the results of the new law. A recent poll found that 74% of all credit cardholders feel that their credit card accounts are better today than they were a year ago and that credit card reform is providing important benefits for consumers. Only 26% said that their credit card accounts were worse than before the CARD act.
See more about the CreditCards.com poll here.
