Lowest Credit Rates Guaranteed for One Year

As of Feb. 22, 2010 President Barack Obama’s new Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009 became a law. The new law states credit card companies cannot raise interest rates within the first year after an account is opened.

After using this site to find Houston’s best credit card rates, this is a great opportunity for new card users to find low interest credit card accounts and begin establishing credit without worrying about sudden spikes in interest.

Prior to the CARD Act, credit card companies were able to raise rates without warning or provocation. Now, companies are unable to increase interest rates without a 45 day advanced warning, unless an individual is 60 days past due on payments.

The law also states that if credit card payments are made in full for six consecutive months, users will be rewarded as their original rates will be restored.