08/13/2012 08:57 am ET Updated Oct 13, 2012

Credit Card Fees: Five Things You Should Know

Federal Reserve rules limit the penalty fees that credit cards charge. The rules, which stem from the Credit CARD Act signed into law in May 2009, were effective August 22, 2010, and are in addition to other rules, such as restrictions on interest rate hikes, that went into effect earlier.

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