Until today (2/22), it was perfectly legal for credit card companies to profit by tricking people into paying late and then tripling the interest rate on their balances.

Not anymore.

The Credit CARD Act goes into effect today and includes this and other protections from abusive practices the banks have used to rip us off. It also offers college students additional special protections.

Here's what's in it for you: http://studentpirgs.org/action/card-act/whats-in-it-for-you

Students have an average of almost $3,000 in credit card debt when they graduate college. We use credit cards to pay for textbooks, transportation, and even tuition. Banks have used aggressive marketing tactics and abusive terms and conditions to trap us into deep credit card debt.

It was the outcry of students like you that passed this law, and the banks aren't happy about it - this is the first time in 40 years any law opposed by credit card companies has passed!

Help spread the word.

Thanks for your hard work!

P.S. For more information, check out this story from U.S. News and World Report:http://usnews.com/articles/education/best-colleges/2010/02/19/new-rules-place-barriers-between-students-credit-card-issuers.html