Credit cardholders in for some surprises.

• Position: YOUR LIFE

The tight credit market combined with the Credit Card Accountability Responsibility and Disclosure Act of 2009, has meant many new changes to credit cardholder agreements by credit card issuers. The Association of Independent Consumer Credit Counseling Agencies, Fairfax, Va., urges consumers to review their credit card accounts carefully and make the necessary adjustments in spending to pay down high balances. The first of the new provisions in the Act went into effect May 22, 2009, and the remaining ones are scheduled to kick in Feb. 22, 2010, although legislation introduced in the House of Representative last month could move up the date to Dec. 1.

"Any changes in cardholder agreements for consumers with high balances could mean immediate financial hardshipS' points out Dave Jones, president of AICCCA. "Consumers would be wise to make the necessary sacrifices in spending to get those high balances down as quickly as possible."

Changes in cardholder agreements include raising the percentage of the balance carried due for minimum payment calculations to five...