Affected by credit card changes?

Credit card companies have been moving fast, raising interest rates and fees before a new law goes into effect in seven months that will restrict those practices.

The Washington Post reports that Chase will raise the minimum payment required for some customers to 5 percent of the balance, from 2 percent.

Bank of America last month raised the transaction fee to transfer balances to 4 percent, from 3 percent, the Post says.

And, since January, card issuers have been continuing to raise interest rates and cut credit limits.

Among other things, the new credit card law, signed by President Obama in May and effective next February, will prevent issuers from raising rates on existing balances unless the borrower was at least 60 days late.

Have you been affected by recent changes? How?

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