The new Credit card laws that came into affect on Monday may be good news for some; however credit card issuers have had nine months to think up how to make up there lost revenues with other charges.

Annual fees, have certainly made a comeback common until about 10 years ago, banking giant Fifth Third announced in June that they will charge a $19 fee on accounts that were dormant for 12 months. Many Citigroup customers will start paying a $60 annual fee on April 1st.

Banks and card issuers are trying other ways to get back their profit such as JP Morgan who raised their cost of balance transfers from one card to another from 3 percent to 5 percent. So although the laws are set to protect the consumer, the credit card issuers will endeavor to find new charges and ways to keep their profit up. One thing is for certain it will certainly be a lot harder for most to get credit in the first place.

To read more on this story go to sanluisobispo.com. What do you think of the new laws? Let us know your thoughts. To read more on what the new laws involve go to onlykent.com.