Starting this February, a new US law bans credit cards for those under 21 unless they have enough income or get someone to co-sign.
The so called “Credit Card Accountability, Responsibility and Disclosure Act of 2009″ furthermore restricts credit card issuers from raising interest rates without warning, penalizing customers who pay on time, and levying excessive fees.
For the full story, have a look here.
So what do you think of this law? Let us know your opinion!
