cardholders

Help is on the way for cardholders this weekend. Newly purchased gift cards won't expire as quickly, and late fees on credit card payments won't be as punishing.

Citigroup is adding annual fees to many popular credit cards a week before new credit card rules go into effect.

Some Citigroup cardholders are receiving letters about a $60 annual fee that is being attached to their account effective April 1.

If consumers make $2,400 in purchases during the year, the annual fee will be credited to their account.

The Credit Card Accountability and Disclosure Act will be a real game-changer – for both banks and cardholders – when it takes full effect next month.

Even the best cardholders are seeing their interest rates rise and credit lines be cut as financial firms struggle to make money in their card units.

The new credit card law is receiving widespread kudos as a victory for cardholders over the lenders that impose "gotcha" fees and penalties with scant justification and little notice.

The company, which has been hurt by rising credit card defaults as more cardholders lose their jobs, wants to save $800 million this year.

Advanta Corp., a credit card lender to nearly 1 million small businesses, will close all its cardholders' accounts next month in a last-ditch effort stem losses.