New credit card rules in effect - | WBTV Charlotte

New credit card rules in effect

CHARLOTTE, NC (WBTV) -- New credit card rules are in effect that should protect your money.

Under the new rules, late payment penalty fees are capped at $25.

In most cases, inactivity fees are prohibited.

And, rate-hikes are controlled. Banks must now explain them and allow you to opt-out by closing the card.

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