New Credit Card Rules Don't Mean Squat for Businesses

Filed in archive Financial on February 15, 2010

© Andres Rueda


The Credit Card Accountability, Responsibility and Disclosure (CARD) Act passed last year aimed "...to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes." Overall, it was great news for consumers. But Adam Jusko pointed out recently that it doesn't do much for the business community.

The Act only applies to consumer credit cards. If you have a small business credit card now or get one in the future, you'll still be working under the old set of rules.

Jusko says the news isn't all bad because banks are going to have to look elsewhere now to replace profits they were making off of personal consumers. "Elsewhere" just might mean the world of small business...