Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act)

Updated May 17, 2026

The Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act) is a landmark federal statute that significantly amended the Truth in Lending Act (TILA) to establish new requirements for open-end consumer credit plans, primarily credit card accounts.

Key protections and requirements introduced by the Credit CARD Act include:

• Increased Notice for Rate/Term Changes: Required creditors to provide more notice to consumers before increasing interest rates or making significant changes to account terms.
• Right to Reject Changes: Allowed consumers to reject such increases and changes.
• Restrictions on Interest Rate Increases: Imposed rules regarding when and how interest rates could be increased on existing balances.
• Over-the-Limit Transactions: Established rules for over-the-limit transactions, requiring consumer consent.
• Student Cards: Introduced specific protections for student credit cards.
• Penalty Fees: Addressed the reasonableness and proportionality of penalty fees and charges.
• Reevaluation of Rate Increases: Required periodic reevaluation of rate increases.

These provisions were implemented through amendments to Regulation Z and became effective in stages throughout 2009 and 2010.