Weekly Credit/Debt News Roundup 10/2/09

By LaToya Irby, About.com GuideOctober 2, 2009

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Canada will get new credit card rules in 2010. Credit card companies will have to give 21 day grace period and no over-the-limit charges on purchases that exceed the limit because of a hold on funds from a car rental company. UPI.com
If you're a frequent flyer, the Chicago Tribune tells you how to find the best frequent flyer credit card.
Always read the fine print of balance transfer offers. Creditors could sneak in a high balance transfer fee that completely kills the deal. Pittsburg Post-Gazette
Merchants want consumers to join in their fight against credit cards for interchange fees, but these fees aren't directly harmful to consumers and may even allow banks to provide some consumer benefits (if there is a such thing). U.S. News & World Report
The average credit card rate is to 12.62% (vs. 12.32% last week and 12.35% six months ago). CreditCards.com