The bill would:

• - Protect cardholders against arbitrary interest rate increases 
• - Prevent cardholders who pay on time from being unfairly penalized 
• - Protect cardholders from due-date gimmicks 
• - Prevent companies from using misleading terms and damaging consumers’ credit ratings 
• - Empower cardholders to set limits on their credit Require card companies to fairly credit and allocate payments 
• - Prohibit card companies from imposing excessive fees on cardholders 
• - Protect vulnerable consumers from high-fee subprime credit cards 
• - Bar issuing credit cards to vulnerable minors 
• - Woodstock Institute and other consumer advocates generated support for the bill among key subcommittee members and are working to achieve broad support to protect consumers from abusive practices.

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