Few consumers are likely to experience overlimit charges beyond this summer, after the Credit CARD Act's new opt-in policy have taken effect. Under that rule, a cardholder must request that their credit card issuer allow certain charges beyond their usual credit card limits. Few consumers have responded to card issuer requests to opt in, leading some market analysts to grow concerned about the banking industry's shrinking profits.
About the Author
Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.