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Consumer Advocate: New Credit Card Rules Have Shortcomings

Mitch Reynolds

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New credit card rules in play as of today. Some consumer protection with the new rules, says Ken King, from Consumer Credit Counseling Services in Wisconsin. But there could be a host of new fees along with new protections on quick interest rate hike.  

Among the changes to credit card rules; one that forces companies to show the number of years it will take to pay a balance off if just the minimum is paid. 

On the balance, King says the credit changes should make things better for consumers.  

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