Large U.S. credit card-issuing banks are shifting their card offerings in advance of the remaining card law changes scheduled to go into effect in February.

Bank of America and J.P Morgan Chase have announced the launch of simpler cards which generally carry a slightly lighter fee load and have a few less complications than their previous offerings.

BofA announced in a press release that its new Basic Visa card, available in October, will carry the same interest rate for purchases, balance transfers and cash advances. The one interest rate will be the prime rate set by the Federal Reserve plus 14% and it will only change if the prime rate changes. The card will carry no over-limit fee and will charge one flat fee for late payments of $39.00. It also boasts a single page of disclosures written in "easy-to-understand" English, the bank said.

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