Does it matter to you what your credit card looks like? It must matter to some, because many credit card companies go to great lengths to design their cards. Chase recently made a subtle change to its Slate(SM) with Blueprint card–they turned it vertical and added the Visa logo.

The terms of the card haven’t changed. It’s still a top pick if you are looking for a no annual fee card with a solid 0% introductory rate offer. But the question is whether the new design will be a marketing boon or bust. Your

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Credit Card Regulation Failing?

The Credit CARD Act of 2009 has some simple objectives. For example, according the White House’s website, the legislation:

• Bans Unfair Rate Increases
• Prevents Unfair Fee Traps

But today’s Wall Street Journal raises real questions about whether this latest wave of credit card regulation has seriously prevented card issuers from gouging customers, even in these two respects.

Credit Card Companies “Outflank Law?”

Take credit card rates. The new law says that credit card companies can raise them only in exceptional circumstances. But at least one card issuer has issued an ultimatum to some of its customers–waive your rights so we can raise your rates or we’ll more than double your monthly minimum payments.

Another of the credit card companies circumvented fee restrictions by hiking rates before the act came into force. Those who are late paying or who exceed their limits now pay penalty fees that are lower than before, but they don’t receive the rate “refund” that they would have received had they not breached their credit card terms. To mangle Shakespeare, “That which we call a fee by any other name would stink as high.”

A third issuer has also been clever in manipulating its credit card terms. It charges a $95 “processing fee” before a credit card is even issued, thus avoiding the law’s restrictions on how much they can charge in fees during the first year after an account has been opened.

Business Credit Cards to Remain Unregulated?

Tuesday’s BusinessWeek discussed a new report from the Federal Reserve that argues that business credit cards should remain unregulated. The Fed says that credit card companies:

…have more difficulty assessing the creditworthiness of small businesses than consumers. Therefore, the willingness of issuers to extend the relatively large credit card lines that small businesses require may depend importantly on issuers’ ability to adjust prices in the future, as they learn through experience about businesses’ ability and willingness to pay. Restricting the ability of card issuers to adjust interest rates may lead to higher initial interest rates, which would harm those firms that borrow on small business credit cards.

That sounds convincing until you remember that Bank of America announced April 1 that it was voluntarily extending the protections offered by the Credit CARD Act to its business customers. Are we supposed to believe that BoA is subject to different economic laws from the rest?

Credit Card Rewards Offers–Two Hot Tips

Today’s Chicago Tribune contains advice for those who are looking out for great credit card rewards deals. The article is particularly keen on the Chase Freedom Card, which has no annual fee, pays a full one percent cash-back on every purchase, and can pay up to five percent cash-back on some defined goods and services.

The writer also mentioned–but was less keen on–the Discover® More® Card. It’s true that the Chase product can suit some lifestyles better but the Discover card could be a winner for the right person. Check it out.

Most popular / best credit cards according to IndexCreditCards.com visitors:

1. 1. Discover® More Card – 0% APR on balance transfers for 12 months & 6 months on purchases, 5% cashback bonus in popular categories, up to 1% cashback bonus on all other purchases
   
2. 2. Chase Freedom Card – 0% Intro APR and no Annual Fee, 5% bonus cash back in popular categories , 1% cash bank on everything else
   
3. 3. Citi^® Platinum Select^® MasterCard^® – 0% on purchases & balance transfers for Up to 18 months, APR as low as 9.99% variable. $30 statement credit.
   
4. 4. Blue Cash^® from American Express – Earn up to 5% cash back on gas, groceries and drug store purchases, and up to 1.5% back on all other purchases, no annual fee, fast approval under 60 seconds
   
5. 5. Slate ^SM from Chase – 0% Intro APR, Now with Blueprint, patented fraud protection
   
6. 6. American Express® Gold Card – 10,000 American Express Membership Rewards bonus points when you use the card for at least $500 in purchases within the first 3 months.
   
7. 7. TrueEarnings® Business Card from Costco & American Express – 4% cash back for annual gas purchases up to $6,000, 3% restaurants, 2% travel, 1% everywhere else, 0% APR on purchases for first 6 months
   

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The group warned that spending money on credit cards that have been used for balance transfers could cost people hundreds of pounds in interest because in most cases repayments are used to clear the cheapest debt first.

As a result, repayments will not be used to clear any additional spending until the money that was transferred to the card at 0pc interest has been cleared.

The group estimates that making a purchase of just £50 on a card to which a £2,500 balance had been transferred could cost up to £106 in interest over 12 months.

From the beginning of next year, credit card companies will be required to use customers’ repayments to clear their most expensive debts first, but until then many firms are continuing to use them to pay down the cheapest ones, enabling them to make more money through interest charges.

Kevin Mountford of moneysupermarket.com said: “Despite this issue receiving a lot of publicity over the last few years, it is worrying that many credit cardholders still make the crucial error on their cards of using them for both balance transfers and purchases.

“Although many cards advertise 0pc rates for balance transfers and purchases, the majority of cards only offer short-term deals for purchases. On

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In the 1800s and prior, if you stopped making payments on your debt you could be thrown into debtor’s prison. Today, this is no longer a punishable crime. However, because you agreed to a contract when you accepted the Terms and Conditions of the credit card, lenders can sue you in civil court. If that occurs, the court can rule that you must repay your debt.

The legal process a lender can take to force you to legally repay your credit card debt is called obtaining a judgment. This judgment is a legal case in which the lender shows evidence that you agreed to the terms of that credit card offer and that you used the credit card.

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Credit Card Companies’ Questionable Practices

Have your credit card rates been hiked for no apparent reason? Or maybe your credit limit’s been reduced, or one of your accounts has been closed. If so, it’s possible that you were a victim of a form of profiling that in effect punished you for your prudence.

Suppose, a couple of years ago, you had responded to the recession by being less extravagant. Maybe you bought some casual clothes from the sorts of store you wouldn’t normally have frequented during better times. Perhaps you purchased a lovely antique gift from a pawn shop instead of your usual jeweler. You mig

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