Last year I wrote about the Credit Card Bill of Rights, and what it really meant for you.  This law went into effect last Monday, so here is a reminder about the key points of the new law and how it affects you.

Overdraft Fees. Overdraft fees can only be charged if you have positively “opted in” and accepted the option to have overdraft protection for a fee.  If your credit card company has not already contacted you, they may contact you very soon.  Declining the option will prevent you from incurring any overdraft fees in the future, but it will also cause your credit card to be denied if you reach your credit limit.

Order of Balances Paid. Previously credit card companies applied any payments (continue reading…)