Things have changed ever since the CARD Act came into being. Though most of them feel that this act has curbed consumers from availing more credit, the mailboxes have a different story to tell. Since the economy is slowly improving, card companies have tightened their standards and are marketing their products with a vengeance.  During the third quarter of 2010, card companies had sent out around 1.2 billion credit card mails, which is more than thrice the numbers that were sent a year ago. The card companies now want the consumers back.

The industry seems to have become competitive once again and that has been quite a turnaround within a year. Around the same time last year things were very different as the interest rates had risen sharply, penalty fees went up and credit limits were brought down. Many analysts had in fact predicted that the credit rewards programs would be silently buried.  However, things have changed today and the credit cards rewards are getting sweeter and balance transfers are getting easier than ever before.  In fact, the rewards offers are much better now than it was prior to the recession.

Consumers have to thank the CARD Act because they are now in a position to make well informed decisions in regard to purchases and can bank on the interest rates remaining unchanged as long as their payments are made on time and they don’t exceed the credit limit offered by the credit card issuers.