Consumer's Guide to Credit Cards

February 2010

The Federal Reserve has launched a new web site intended to help consumers better understand the new credit card rules that took effect on February 22, 2010. The site summarizes the rules' main provisions, which require greater transparency in disclosing terms and conditions, and explains how they will affect credit card users. Information about recent changes in credit card rules forms the core of the site, but basic facts about common credit card options, interest rates, and fees are also provided.

Consumers will find a glossary of common credit card terms for quick reference and a list of federal credit protection laws provides a basic guide for those who want to learn more about their rights. The site also provides information about common credit card problems--such as lost or stolen cards--and links to resources for consumers who are experiencing problems with their accounts. Two interactive features on the site enable consumers to learn more about credit card offers' terms and fees and about the new features on monthly statements.

To go to the Federal Reserve Consumer's Guide to Credit Cards web site, please click here.