Credit changes that have taken place in 2011

Perhaps in order to improve customer relations, many credit card companies have enacted policies this past year that are beneficial to the consumer. To help individuals determine what these changes include, recently reviewed some of them.

A significant change was the removal of the foreign transaction fee by some lenders. According to the source, credit card carriers like Chase and Citi removed this type of fee earlier this year but Discover eliminated the fee as recently as November. says this fee removal will be particularly beneficial for consumers who travel overseas.

While other fees have been eliminated as well, such as the balance transfer fee, late fees still apply. Consumers should make paying for things on time a priority so that their credit scores aren't adversely affected.

Another change that many credit card issuers have adopted is increasing their rewards programs, the source indicates. Rewards are points that consumers accrue through their credit purchases. By buying more items, consumers are "rewarded" more often with discounts on the things they buy with credit. However, overuse can still lead to debt and credit problems.