When it comes to the types of credit cards that seem to be garnering the attention of prospective cardholders today, there is no surprise that reward cards are at the top of the list. Even while many are searching far and wide for low interest credit cards, rewards still are finding their way into pocketbooks mainly due to the fact that cardholders are receiving cash among other things for using their plastic to make purchase they were going to make anyway.

As one of the most popular Chase credit cards, it now looks like Chase has decided to raise the amount of cash back (up to 5 percent) you receive on some of the most popular purchases going into the spring and summer seasons for the Chase Freedom Card. For cardholders, the two important dates in which you should start to receive the five percent cash back are March 15 and April 1. On March 15, cardholders will receive increased cash back at places like home improvement stores, lawn and garden outlets, and retail locations that sell home furnishings. On April 1, cardholders will get the five percent cash back on place where they dine, at grocery stores, drug stores and more.

When it comes to cash back and reward credit cards the boost with Chase Freedom may be something that is only the beginning when it comes to enticing cardholders to pay with their plastic. As many people have started to spend less with their credit cards, issuers have become hard pressed to come up with ways to become the top choice for making payments once again. As Chase was not the first to start the year off using money as an incentive (Discover’s "It Pays to Discover Everyday Giveaway"), they will definitely not be the last and you can be rest assured that other issuers will follow suit very soon.

What started out as simple and intriguing ways to get rid of your credit card and move your money somewhere else is now something that has spawned "credit card revolts" around the country.  According to an article entitled "Banks, Credit Card Issuers Face Simmering Uprising", the most recent action of the ever-growing credit card revolt is that of a movement entitled, "Move Your Money". Under this campaign, organizers are utilizing the anger that millions have toward big banks and credit card issuers, and are encouraging the move of their finances to both credit unions and smaller community banks.

When it comes to why movements like these have been growing everyday, consumers don’t have to look too far. Websites such as youtube.com have literally millions of videos where cardholders have vented and how their financial institution has done very little to help. As of date, the most prominent video as been between one woman from Red Bluff, California and Bank of America, in which by the time it was all said and done her interest rate was lowered (not as low as she hoped).

Even with new laws and regulations, millions of people have decided enough was enough with the dramatic changes to their credit card terms last year. Credit unions have been the choice of many as they have seen benefits that far outweigh the initial amount that must be deposited to become a member. In addition to that we are now seeing credit unions start giving options such as reward credit cards that were once obsolete, making their card portfolio something potential cardholders would not mind getting to replace their current cards.

Even with the second phase of the new law going into effect late last month, there are plenty of things that cardholders must still actively manage in order to make sure that they are not surprised when they get their credit card statement or try to make a purchase.

One important aspect that cardholders must now be more aware of is their credit limit, and any changes that have occurred pertaining to that limit. Unlike other factors such as interest rates, the new law does not require card issuers to give advance notice of any decease that will occur with limit changes. Instead the new law keeps cardholders from being charged over-limit fees, unless they have opted to allow over-limit transactions. For those that have opted in to allow these transactions the fees depending on the issuer will be much heftier then in the past.

When it comes to knowing where you stand with your credit limit, the best thing to do is to read every notice from your issuer, even if they may look like "junk mail". Within the notices make sure you verify any information before making any purchases (especially large ones). This will help make sure you keep up with your credit limit and hopefully keep your credit score high as going near your credit limit can drastically lower your score.

With the new law in place putting requirements on the ability to get a credit card for those under the age of 21, issuers are now getting creative when it comes to reaching out to students. In the past while they could simply set up booths in and around campus and give incentives for signing up for a card, in today’s environment it is the parents that are being highly targeted because they are likely the ones that will determine whether or not their children will get a card (as they will probably be the co-signers).

With one of the restrictions requiring a co-signer it now looks as though card issuers are putting their focus on the parents more than the student themselves. On many accounts, issuers are targeting those whom already have existing accounts with them and are sending promotional material. Others have simply taken the approach of sending marketing material to the students home addressed to the parents in an effort or utilizing the direct mail approach that has worked for credit card issuers for years.

When it comes to student credit cards, stakes are high when it comes to the issuers. On many accounts, issuers focus on students for many several reasons. One of the main reasons is the fact that students are future. Traditionally college students generate some of the highest profits due to the fact that most often they do not pay their balances off in full each month. Not only that, but student tend to hold on to their first credit card longer than any other because it is most likely their longest standing account showing credit.

When it comes to your money, the Federal Reserve is doing more than just informing credit cardholders of the beneficial information that they need to know concerning the implementation of the Credit CARD Act. They are also letting debit cardholders know about the new rules taking place later this year concerning the next biggest issue currently effecting millions of people, which is overdraft fees.

On getting the word out about the changes that consumers will be seeing, the Federal Reserve Board is once again utilizing the web. On the Federal Reserve Boards site, cardholders can now go and view what the Fed believes you need to know about the new overdraft rules for ATM and debit cards. Once there you will find a great overview of the changes, and the basic facts of every account.  Not only that, they break down the new rules in an easy to understand way that covers the following points:
 

• Your ability to choose
• Accounts effected
• The flexibility you receive
• What is and is not covered
   

One of the great things about this site is that they actually give you an example of what you should be receiving from your financial institution. This allows consumers to become familiar and understand documentation well before actually receiving any letters from the bank. In all, this site is very good in helping cardholders know what to expect when the rules take effect on August 15th.

While change has come in the form of regulation for consumers via the Credit CARD Act, when it comes to merchants it is a completely different story as it now looks as they will have to wait much longer in hopes of seeing change. This is because as it stands now the chairman of the House Financial Services Committee, Barney Frank, has stated that he will not seek the regulation of interchange fees in 2010.

When it comes to the increases of fees many retailers are trying to find ways to keep the cost from being pushed on the consumers, especially in a time when many Americans are trying to cut cost. Within the past months we have seen and heard many stories of businesses both large and small incentive using cash instead of plastic. We have also seen some national retailers go as far as stop using some of the newest payment terminals available in efforts to show their objection to the increase of fees.

While retailers are not looking to pass the cost on, experts have predicted that the consumer could still be charged more in the long run if the fees are every regulated. As credit card issuers use these fees to pay for things such as reward programs among other things, a cap or freeze on these charges would once again give issuers another reason to raise fees.

Since the end of last year one common theme that could be seen and heard across America was that millions of consumers were no longer looking to carry a credit card balance from month to month. Instead many have found ways to either pay off the balance or simply not use their plastic. While we would all love the ability to pay off the amount owed each month; when reality sets in, the truth is that not everyone has the ability to.

For those that have no other choice but to carry a balance, Bankrate.com has recently written an article entitled "5 ways the CARD Act helps balance carriers" that details how the regulations placed on the credit card industry are beneficial to you. In this article, the major points that are elaborated upon are the following:
 

• Freezing of account rates after it has been opened
• Beefed up protection for existing balances
• Newly placed consumer-friendly payment allocations
• Mandatory account reviews on cardholders
• Ending of double-cycle billing
   

While all the points above are important, one that I personally believe helps cardholders, that traditionally carry balances over, out the most deals with the end of double-cycle billing. While the cardholder will still pay interest for carrying a balance over, they will no longer be paying as much as they would have been previously and are now able to save a little money that can be used on their outstanding balance; to pay off that amount owed.

Have you ever wondered what your Congressman thinks you should know about your credit card when it comes to all the recent changes? If so, you are in luck as a new site maintained by the Federal Reserve Board has recently been launched to provide a basic guide to navigating the credit card process.

On this site consumers will find guides that every cardholder or potential cardholder should know when it concerns their credit cards. One guide that seems to have highest priority is that on how to read and understand your credit card statement now that the Credit CARD Act is in place. You will also find other great guides on information that you should know about your card before you every call to activate it, such as understanding your interest rates, fees, terms or agreement and other important details when it comes to managing your credit.

One of the best sections on the site in my opinion is that which shows the consumer the credit protection laws. With this page consumer find not only the names of the laws, but what they actually are in place to do. This helps consumers with a starting point if they ever have any questions or if they feel that an organization is performing unlawfully. In all, the site is something that every cardholder should view at least once; if nothing more than to make sure they are up-to-date with all the information needed to know about their credit cards.

Now that the new era of credit card practices is officially underway, it should seem as no surprise that issuers are beginning to take the initiative to create ways to help their cardholders understand the many changes that have taken place. While each issuer has their own way of doing this, one issuer is doing it with "Straight Talk" and it could be what cardholders everywhere need.

Recently announced by Discover, "Straight Talk" which can be found on their financial education research page is a video and collection or articles designed to help consumers more easily understand how credit cards work, including changes from the Credit CARD Act. As of right now cardholders can view informative information on how credit card issuers determine things such as interest rates, credit limits, as well as the fees that they may charge. They also give information that many people probably will find important such as what changes people could see in the future because of the new regulations placed on the industry.

So will "Straight Talk" be what cardholders need to help them feel more comfortable with their plastic? Well, while it all depends on the consumer one thing is for sure; it really does not hurt anything at all. Right now the focus of every issuer is to make sure that consumers are comfortable with the overall credit card environment. Information that helps consumers understand this could essentially help gain that individual cardholder both now and later. Even if you have a credit card and have decided not to use it ever again, the site could be worthwhile to view.

While we have heard and read of all the changes with the implementation of the CARD Act, there are still millions of people that may not know how they will personally be affected. If you are one, fear not; there is information available that can help you get a complete understanding of the new law and your plastic.

Bankrate.com has recently released their 2010 Credit Card Guide to help current and future cardholders gain valuable information when it comes to their credit cards. It also offers useful information on the two features that are drawing the attention of millions of cardholders, which are balance transfers and reward programs. Not only does it cover those features, if you are looking for any types of cards in particular the guide also has valuable information that you should know before you apply.

In my opinion this guide is very useful to anyone who has a credit card  or anyone who may be thinking about getting one as the world of plastic has change as the CARD Act is fully implemented. While we have all heard the changes involved, this guide gives its readers a more in-dept look that could help them become more knowledgeable on how the changes will affect them in their particular situation.