The CARD Act takes effect next Tuesday, the 22nd, so you can at least say goodbye to Universal default, Double-cycle billing, and the allocation of payments to the balance with the lowest interest rate. Those are 3 biggies that stand out from the list below.
And as Disneysteve said, quite a few of the other complaints have either been eliminated or tweaked to make the rules more consumer friendly. For example, penalty interest rates can still be charged when you're late on your monthly payment, but you have to be 60 days late now. Then, after you make 6-months of on-time payments, the credit issuer needs to restore the interest rate to the previous lower level.
There are certainly still traps to watch out for, but this list is definitely out of date.
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