Credit card reform has been a very hot topic in Congress all week.

On Wednesday, the Credit Card Act was reintroduced in the Senate.

Bill Hardekopf, who runs the LowCards.com Web site, posted information about some of the key provisions of the proposed legislation.

1. Protect consumers from interest rate increases and account changes for reasons that are unrelated to card. This will prevent issuers from increasing interest rateson cardholders in good standing who have done everything right.

2. Interest rate increases will only apply to future credit card debt. If the rate is increased, customers may close the account and pay under the existing terms at the time the account is closed.

For more details, Hardekopf's Web site is a tremendous resource. Check it out by clicking here. The Independent Community Bankers of America has also weighed in on the legislation, urging caution. Check out their positions by clicking here