To amend the Consumer Credit Protection Act to ban abusive credit practices, enhance consumer disclosures, protect underage consumers, and for other purposes.


Credit Card Accountability Responsibility and Disclosure Act of 2007, or the Credit CARD Act of 2007 - Amends the Truth in Lending Act to require advance notice of any increase in the annual percentage rate (APR) of interest pertaining to a credit card account under an open end consumer credit plan.

Imposes a freeze on interest rate terms and fees on canceled cards.

Prohibits: (1) penalties for on-time payments; (2) fees for non-use of credit card; (3) over-the-limit fees for creditor-approved transactions; and (4) use by a credit card issuer of adverse information unrelated to a cardholder's account with that issuer in order to increase the APR under an open-end consumer credit plan.

Requires disclosure of: (1) repayment information applicable to the outstanding balance; and (2) late payment deadlines, postmark dates, and any increase in interest rates for late payments.

Increases the civil penalty against any creditor who fails to comply with specified requirements in the case of an individual action relating to an open end credit plan that is not secured by real property or a dwelling.

Prohibits issuance of: (1) a credit card under an open end credit plan on behalf of a consumer who has not attained the age of 18, unless the consumer has submitted a written application meeting specified requirements; or (2) certain affinity cards to students unless certain requirements have been met.

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