Source: Kathy Kristof, L.A.Times ( Free Registration )

Don’t look now but a funny thing is happening to the plastic in your wallet: It’s getting safer and easier to understand and use — at least if you’re the right type of customer.

The final stages of credit card reform went into effect last week, capping a two-year process that was designed to eliminate sneaky fees for everything from exceeding your spending limit to simply not using your cards.

The most recent provisions will reduce late fees for all but the most pernicious procrastinators and give those who’ve been hit with penalty fees a chance to redeem themselves. In addition, the new rules will eliminate a profusion of fees that could eat up the value of some gift cards before recipients had a chance to use them.

Read Full Article: New rules slash card fees