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How will the Obama credit card law affect me?

July 26, 2009 | By cburns In Credit Cards |
Michael asked:

I’m 19 years old and I have my first credit card. The new Obama credit card law will restrict credit access to people under 21 when it takes effect. Will I still be able to keep my card?

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    • 1 Comment so far

    1. Matt on August 2nd, 2009

      Of course. You’re going to be grandfathered in. If you apply for a card after the law, you may have a hard time getting it. But with Obama’s law, as long as you can prove your income, you should be fine.

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