We called it! While some industry experts like Curtis Arnold of CardRatings.com said that they didn’t expect the recently-enacted credit card reform to impact good customers, we warned readers back in May that it was inevitable.

It’s simple: if you take away the credit card companies’ ability to raise rates, then they’ll simply develop new and “creative” fees and charges to nickel and dime their customers. Perhaps “nickel and dime” isn’t entirely fair since fees and charges are two of the main sources of income for credit card companies (emphasis added): Read the rest of this entry »