A recent report from the Pew Health Group's Safe Credit Card Project has found that credit cards issued by credit unions remain the best deal for consumers and that, by and large, the Credit Card Accountability, Responsibility and Disclosure Act has accomplished the goals legislators intended.
The CARD Act will have its second year anniversary on May 22.
The report, based on a survey of card disclosure documents from the 12 largest banks and the 12 largest credit unions, revealed that interest rates have largely held steady while penalty rates have dropped, over-limit fees have almost vanished and annual fees on the cards that carry them have also remained remarkably the same.
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