In an article from BNET’s Moneywatch, it is reported that there are three changes, credit card companies are using to make more money. These companies are losing a lot of money because of the new regulations. It definitely killed some of the content in their bag of tricks. But they are resourceful.

According to BNET –

The new Credit CARD Act, passed last year, handed credit card companies a long list of new consumer-friendly regulations. But it hasn’t taken long for card issuers to find sneaky ways around the new rules, says John Ulzheimer, head of consumer education for Credit.com.

The new rules are going to cost the credit card industry somewhere between $50 billion to $80 billion a year, he says: “That’s enough money that they’re going to have to make it up” in other ways.

First, they have increased minimum fees and interest rates.

Second, the law requires that if your payment falls on a weekend or a holiday while the companies are closed, your payment will not be late if you pay the day after. To evade this, the companies are keeping some of their offices open on those days. Call your company on a holiday and see if they have open offices, if so, to be on time, you must pay before the holiday.

Third, the law requires college students to show evidence of a job or have a parent as cosigner before they can get a card. The companies are turning a blind eye to other students co-signing and are considering student loans as income, evading both requirements.

I’m sure I’ll have more to report about credit card company tactics in the future.