Before you charge your new furniture or a pair of heated mattress pads on your credit card, you should know what the new rules are:

* More time to make your payment - You have at least 21 days from when your bill is posted online or mailed to pay before you are charged a late fee.

* More notice for rate increases - card companies must give you at least 45 days notice when raising interest rates. Consumers can cancel the card and have five years to pay off the balance at the original interest rate.

* No retroactive rate hikes - Interest rates on existing balances cannot be raised unless you are more than 60 days late with a payment. Rate increases are prohibited for the first year a card is open (unless a promotional rate expires).

* Fewer fees - Say good-bye to over-the-limit fees unless you give preapproval for purchases that exceed your limit. However, banks and card companies may bring back annual fees.

* Pay less interest - If your card carries multiple balances with different interest rates, card companies must apply any payment (above the minimum) to the balance with the highest rate first. But the law doesn't cap interest rates, so some creditors are raising them, even on cards in good standing.