Today, December 18th 2008, federal regulators announced new policies to protect credit card consumers from fees and ruthless universal default clauses that can cause financial stress for American families. In 2010 consumers will no longer have to face potential interest rate hikes on debts accrued prior to the change in the rules adopted by federal regulators. Many consumers have been financially ruined by increases in minimum payments and interest rates that compound so severely that paying off $25,000 in credit card bills could take 18 years or more. This change is the first major “win” for consumers since the “Credit Crisis” has begun. These new changes will allow a consumer to be allowed up to 21 days to make payments, receive 45 day written notices for changes to a consumers account, complete elimination of “double-cycle” billing and hopefully taking the first step towards eliminating the deceptive offers so commonly received. Enforcement of these changes are scheduled to begin in 2010 until then it appears that some credit card holders might fall prey to some of these unfair rules.