"The best revenge is a better card."

As we’ve mentioned here and here, some aspects of the Credit CARD Act went into effect next week.  If you haven’t already seen changes in your monthly credit card bill, you might soon.

This first set of rules is mostly about advance notice of changes to interest rates and terms, which means consumers will find it easier to figure out when their card is no longer working in their best interest.  When this happens to you, we suggest that you refer to this article from the New York Times, which provides advice about how to sort through many available lines of credit to find a card that’s best for you.

The article offers tips based on different financial situations and expectations for your card (would you rather earn miles, other rewards, or cash back?), and suggests that when your issuer changes their rates, “the best revenge is a better card.”

For AFFIL’s own tips on how to shop for a better credit card, click here (pdf).

(Photo: SqueakyMarmot)