Take a few seconds to find your wallet. If one of the first things you see inside is a credit card then you belong to the growing majority—78 percent of US households—with one or more credit card accounts.

Thanks to the Credit CARD Act the laws regulating card companies are changing, and that could have a big impact on you (see bill). Consumers still have a lot to worry about in the next several months as the new law goes into effect.

Interest rates are likely to increase, even while benefits and perks shrink. Credit card companies are also reducing spending limits. Check your statements to make sure that your limit hasn’t been reduced. Experts also recommend not spending more than one-third of your limit.

The best advice anyone can give about credit cards is to read the fine print. Make sure you understand the terms of any credit card offer and make informed choices about how much credit card debt you take on.