Here’s what’s forbidden under the new law, the CARD Act. It’s important that you know this so that you can spot potential violations by your card issuer (such violations have already been recorded by the Consumer Federation of America):

Your credit card company cannot:
-Increase your interest rate on an existing balance, or within the first year an account is open.
-Charge you a fee for inactivity.
-Charge you a fee for making transactions that exceed your credit limit or overdraw your bank account. Instead, your purchase will simply be denied (unless you “opt in” to overdraft “protection”—aka fees. This makes overdraft protection the exception, where it had been the rule).
-Maximize your interest charges by using “two-cycle” billing (imposing interest charges on balances in a past billing cycle or bundling payments).
-Charge you a late fee without warning.
-Raise your interest rates or other fees without first giving you 45 days’ notice and the option instead to cancel the card.
-Charge you annual fees that exceed 25 percent of your credit limit (excluding penalty fees).
-Allow a minor to open an account without a co-signer or proof of means.
-For a given late fee, charge you more than $25 or the amount of your minimum payment due. The one exception allows for higher penalties if the cardholder has multiple late payments within the past six months.

Now, the loopholes—or, what to look out for:
Professional cards
These are part corporate card, part consumer card and fully exempt from the new law. Companies have sent out an unprecedented number of these cards since the law passed.
Rebate cards
These are also exempt from the new regulation.
Annual fees
Even though annual fees can’t total more than 25 percent of your credit limit, 25 percent can be a lot. And many companies are making sure to get as close as possible to that 25 percent, even if their previous annual fees were low. (The 25 percent cap on annual fees does not apply to penalty fees, such as late payment fees, or to “processing” fees, which are charged upon initiating the account.)
Balance-transfer fees and minimum finance charges
These apply when you transfer your credit-card balance to get a lower interest rate; and to balances that remain on the card month-to-month (respectively).
Unfair calendar-driven late fees
That nearly criminal late fee if the due date of your payment falls a holiday or weekend, when the bank doesn’t process payments.

For more detail, and some history behind the legislation, see the suggestions here, here and here. Happy (but responsible) spending!

Read more from Eliza on her blog, The BK Recessionist.

The mint Cape Codder at Anima. Photos by Eric Reichbaum.

Clinton Hill certainly has its share of alluring little traps that can easily sabotage the neighborhood cheapskate. For example, Elly’s Market (So cute! So much variety! Oh my god I just spent $60!) or Barking Brown boutique, where the funky patterns might hypnotize you into dropping a week’s pay on a tank top. But even in Clinton Hill, deals abound if you know where to go. From Park Ave down to Atlantic, Vanderbilt Ave on east to Classon, Clinton Hill is a prime territory for stoop sales. But the deals don’t stop at your neighbor’s trunk of disco-era suede jackets, as I found out on a recent weekend exploration:

FOUR VERY HAPPY HOURS Clinton Hill’s happy hours stand out for their length—instead of instituting the standard 7 pm reality check, I found several bars that keep the cheap booze flowing til 8pm. Which gives you a lot more time to feel good about getting wasted before dinner. Two of note are Anima (458 Myrtle Ave, at Washington Ave.), which offers a 2-for-1 deal until 8; and Alibi (242 Dekalb Ave, between Clermont Ave. and Vanderbilt Ave.), where drinks are $3 until 8. Monday nights are especially economical here, as The Five Spot, (459 Myrtle Ave, at Washington Ave.) on Myrtle and Washington, offers $2 pints and Rope, (415 Myrtle Ave, at Vanderbilt Ave.), sells $1 PBRs.

Bergen Bagels.

TWO BUDGET BREAKFAST JOINTS Soak up that happy hour hangover at Bergen Bagels (486 Myrtle Ave, between Hall St. and Ryerson St.) The breakfast specials—egg sandwich & coffee for $1.95 or muffin & coffee for $2.15—are excellent considering how fresh this food is (all baking is done on the premises). Castro’s (511 Myrtle Ave, between Grand Ave. and Ryerson St.), a Mexican joint popular with Pratt students, has a breakfast special that gets you 2 eggs any style served with home fries, bacon, ham or sausage, coffee or tea, and toast for $6. They also offer a slew of “special sandwiches” for breakfast (some quite hearty, like the 2 eggs with bacon, ham or patty sausage for $3) for $2.25 to $5.

FABULOUSLY CHEAP INDIAN FOOD For the heartiest deal I’ve found try Kinara (368 Myrtle Ave, between Adelphi St. and Clermont Ave.) It’s spicy, fresh Indian food at a great price. This is the second branch that Kinara has opened, the first being their Park Slope location. Kinara has good service, quick delivery ($13 minimum), and the chicken tikka masala, lamb korma, and samosas come highly recommended.  Most importantly, here you can get a whole 3+ course spread- appetizer, entree, rice, sauce, naan, and dessert, delivered for for $12.95. It ends up being easily enough for two people. If you’re eating in, everything on the menu is 50% off from noon to 4.

MANICURE DEALS Century 21 nail salon (383 Myrtle Ave, between Clermont Ave. and Vanderbilt Ave.), offers manicures for an obscenely low $7 and pedicures (in “those nice squishy chairs,” as my salon-savvy friend noted) for $14.

DOLLAR-A-DAY YOGA At Move With Grace Yoga studio (469 Myrtle Ave, between Hall St. and Washington Ave.), try a $30-for-30-days deal going if you sign up with a friend.

Move With Grace Yoga.

Read more from Eliza on her blog, The BK Recessionist.