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Conditions. kids can't get the credit cards any more. unless they can show they can pay down the debt. and no more over-the-limit fees, unless you opt in. there's a huge amount of changes going into effect on monday. >> really good for consumers and the reason they were there for credit card companies is they made them money. to the tune of like $12 billion, okay. so how are they going to recoup these losses? >> ritz interesting. because any time there is this legislation, the credit card companies will find ways around it and they gouge you in other ways. in anticipation of this legislation g...

Reason alone, greg, i got to say, if someone is charging me an inactivity fee, i'm not going to stay with the issuer. do you think there will be a reaction to this? >> yes, there's a reaction and action, and a lot of the new fees are in reaction to the new credit scarred rucard rules. and shop around. >> don't close the card until you can get another one, because it's harder than ever to get a new credit card for some people. >> it certainly is. >> great advice. >> great advice, and logon to gerri@cnn.com to see more financial solutions and you can pick up the latest issue of "money" magazine ...

Year and a half, to two years, you can get your deposit back. and some issuers will let you convert to it an unsecured card. you can find the liles of secured cards at bankrate.com and also check with your credit unleion to see what they offer. >> they offer great terms. and it's a great way to get a credit card. mike asks i only used my card twice in 2009, and i'm concerned about the inactivity fees. would you recommend keeping the card and paying the inactivity fee or close the account and take a hit on my credit score? >> i would do neither, to maintain the credit score is use the card a li...

Say they're good for you. 45 days notice before raising interest rates and fees. no rate hikes for the first year in most cases. get rid of overdraft fees. they have to get your permission to charge you for an overdraft. don't give them permission. some resfrikzs for people under 21. you have to be able to show that you have cash flow earnings or you have to have your parents or grandparents sign for you. watch out the people at credit.com say they will find new ways to try to get your money. >> the sad part is the federal reserve gave them so much headway on these new rules that the credit ca...