Beginning October of this year, Discover and American Express cardholders can breathe a sigh of relief as their credit card over-the-limit fees are laid to rest. Amex and Discover took the plunge to eliminate the fee in response to the Credit CARD Act of 2009, which mandates that card companies cannot charge over-the-limit fees unless consumers give their consent.

Most pundits saw it coming: a wave of frenzy as credit issuers scramble to get their ducks lined up before the new provisions called for in the CARD Act of 2009 kick in.

Once the provisions of the new law steps into effect in August of 2010, card issuers will no longer be able to raise interest rates retroactively on existing credit card balances.

Credit card and identity theft strikes in all sorts of places, ranging from the mundane to the bizarre. One of the more peculiar instances of stolen credit cards involved a Nashville, Tennessee man who hired homeless to dig thru the garbage dumpsters of hotels near the Nashville airport to find disposed receipts with credit card numbers.

Every year, identity theft strikes almost 9 million Americans. The theft is most typically discovered within the first three months, but in some cases it takes much longer; the victim might only find out when he or she is declined for a new credit card application.

January is a month dreaded by all. T’is the season after the Season, a time of reckoning, when we’re left with long dark days, woefully expanded waistlines, and a mounting pile of credit card bills.

Every Holiday shopping season, we Americans go through the same ritual, wowing not to overspend, and then proceeding to swipe away like there is no tomorrow.