A recent study by the Center for Responsible Lending found that not only have the new credit card rules mandated by the CARD Act of 2009 resulted in significantly greater price transparency for consumers, but, despite grim predictions, actual prices have remained stable and available credit has not tightened beyond what would be expected from the economic downturn.

The study, "Credit Card Clarity: CARD Act Reform Works," found that because price transparency fosters competition, the long-term effect of the CARD Act is likely to be lower costs for consumers.

In addition, new rules have reduced the difference between stated rates and actual rates paid on credit cards, resulting in more transparent pricing. An estimated $12.1 billion in previously obscure yearly charges are now stated more clearly in credit card offers. The study also found that direct-mail offers have been extended at a volume and pace consistent with economic conditions.