Effective last month, the Credit Card Bill Reform which President Obama signed last year went into effect. To mark the occasion, a live chat was held through CreditCards.com with Austan Goolsbee of the Council of Economic Advisers. The law that President Obama signed last May shields card users from sudden interest rate hikes, excessive fees and other gimmicks that card companies have used to drive up profits. According to the Pew Charitable Trust, a company that tracks credit card issues, consumers will save at least $10 billion a year from curbs on interest rate increases alone.