When it comes to disclosing fees, the difference between the old and the proposed approaches is stark. Under the current Regulation Z , fees are grouped in one small box of the larger disclosure table, with one exception, one that illustrates the problem with the old fee disclosure table.

The Federal Reserve Board, as part of its wide-ranging review of credit card disclosure rules, has proposed two different approaches to the so-called "effective annual percentage rate (APR)" -- the amount of interest credit card users actually pay after factoring in finance charges such as cash advance fees and balance transfer fees. This "effective APR" is much higher than rates typically advertised for credit cards. Creditors say consumers don't understand the effective APR, that it's hard for creditors to explain, and that it's "inherently inaccurate."

A proposed change to Regulation Z will end the current practice of allowing card issuers to advertise "fixed" rates that can change whenever the issuers feel like it. Currently, issuers can offer a "fixed" rate credit card -- and change the rate 15 days later or "at any time for any reason." Under the proposal, the term "fixed" will have meaning: If no time period is specified, the rate will remain fixed as long as the account is open and payments are kept current.

Though most of the proposed Regulation Z changes deal with improving consumer understanding through well-designed information tables, one of the most important changes involves time. The Fed thinks creditors should give 45 days' prior notice of any changes in the interest rate or other account terms. Currently, credit card issuers can change the interest rates, due dates and other terms with only 15 days' notice. Under the proposed rule changes, they must also give 45 days' prior notice before increasing your interest rate because of delinquency or default. The board argues that with more notice, consumers will have more time to explore other credit options. Any changes in terms included on monthly statements must be disclosed in a table format rather than buried in the fine print.

After nearly two decades, the Fed's Board of Governors is proposing changes to help consumers better understand and know the terms of credit card use.

The Federal Reserve Board has proposed the most sweeping and consumer-friendly changes in nearly 30 years to Regulation Z, the section of the Truth in Lending Act that governs how consumers are notified of the terms and conditions of credit card and other revolving (open-ended) loans.

you're taking a foreign trip, a credit card can be the best and safest way to pay for travel costs. Even so, it pays to take precautions when traveling with plastic, especially when leaving the country. These 10 tips will help smooth the way. The first tip is so obvious we won't even count it among the 10: For overseas travel, vacationers will want to choose a credit card that is widely accepted. Guidebooks for the region you plan to visit often say which credit card to bring along. In general, a credit card from American Express, Visa and MasterCard is a safe bet.

As far back as the late 1800s, consumers and merchants exchanged goods through the concept of credit, using credit coins and charge plates as currency. It wasn't until about half a century ago that plastic payments as we know them today became a way of life.

The next time you're at a restaurant, instead of handing over your credit card to pay the tab, a waiter could bring a handheld pay-at-the-table device. Swipe your own credit card, add a tip and total out the bill right at the table, so your card never leaves your sight. It's not likely you'll run into one of these devices today, but a half dozen firms are betting that you will soon. Of the more than 900,000 restaurants in the United States, only a few thousand now offer at-table swiping. Grant Drummond, director of marketing communications at Ingenico, a Toronto-based manufacturer of the devices, predicts that they'll be in 80 percent of restaurants by 2012. As their usage spreads, they could reduce opportunities for fraud and identity theft credit card that arise when consumers hand over cards with servers who ring up bills behind the scenes.

Heating bills are rising at a time when utility companies across the country are broadening electronic payment options for customers, including allowing credit card payments for utility bills. Personal finance experts say paying for basic living expenses with credit cards makes sense only if you pay off the entire balance each month. They also warn that carrying a revolving balance encourages people to live beyond their means while racking up interest charges that can plunge families deeper into debt. Conserving