The following rules go into effect on February 22, 2010, with just a few applicable in August 2010.  The following are the primary provisions of the Credit Card Act:1.  Interest rates cannot be raised during the first year of an account.
2.  Issuers cannot impose a processing fee for online or phone payments.
3.  Issuers cannot charge fees if you go over your credit limit without your authorization.
4.  Customers must be more than 60 days late on payments before their interest rates can be raised on prior balances.
5.  If the rate goes up, the interest rate must go back to the lower rate if the cardholder makes payments on time for six months in a row.
6.  If your card has more than one interest rate on balances, payments must be applied to the highest rate balance first.
7.  Credit card issuers will still be able to lower your borrowing limit, cancel your account without notice and raise your monthly payment.