On August 20, the first phase of the credit card bill that was approved in May took effect. 

 Key changes in the way credit cards work include:

 1.Customers will now receive 45 days notice,
up from 15 days, before interest rates increase. 2.The minimum balance due can increase by no more
than two times the percentage that it previously has been. 3.Bills must be mailed 21 days, up from 14 days,
before the payment is due.

 The balance of the bill's provisions will become effective in February. Until then, consumer advocates' concerns center around credit card issuers continuing to increase rates, lower credit limits, decrease rewards programs, and close inactive accounts. Credit card companies reaffirm these actions are not due to legislation but decreasing credit scores. 

 This bill intends to help consumers control credit and unknown expenses. As consumers consider buying or selling a home, knowing monthly expenses becomes increasingly important in understanding how much they can afford and are comfortable spending on  housing.

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