I appreciate this breakdown Carrie! While President Obama's efforts to end predatory practices by credit card companies are heartening, we as users still need to be on our toes. One of the easiest ways to avoid debt is to pay the monthly bill in full to avoid unnecessary charges.

February 2010 is not that far away; I think it would be a good idea for everyone who has a credit card to sit down and just go through what is going to change about credit card usage. Multiple websites, including BillShrink.com, have done a comprehensive job of explaining what exact changes will occur. Here's their comparative breakdown: http://www.billshrink.com/credit-cards/bill-of-rights/

Carrie, are you planning to have any follow-up pieces on the Bill as and when it gets implemented early next year?