A new credit card law has been passed.  Defeat for cardholders over the lenders that impose "gotcha" fees and penalties with scant justification and little notice.  Trying to make up for lost money, banks are considering charging interest from the date of a purchase instead of allowing a grace period, now about 20 to 25 days.  Bank of America's and Discover's plan to raise  their balance transfer fees to 4 percent from 3 percent on June 1.   Card companies have used reward benifits to keep customers' loyalty. Now they won't be able to keep those programs when they are not making as much from finance charges and penalty fees.  I think that this just makes people have to be more careful about how they spend their money.  Also it makes them get stuff done and ready.

SOURCE:http://www.lansingstatejournal.com/article/20090526/NEWS03/905260313/1004/NEWS03/Credit+card+law+has+minuses+for+users