Indiana Senator Evan Bayh strongly noted that "if middle class people have to play by the rules than so should credit card companies." And with a new credit card law in place those credit card companies will have to do just that The new law, passed by President Obama last Friday, will make credit cards easier for consumers easier to understand. A big component of that will be no more hidden interest rate hikes. Bayh says that with the law in place "no longer will credit card companies raise interest rates without informing people first." According to the U.S census bureau there are over 170 million credit card holders in the U.S. And the average credit card debt per household over $8000 dollars. And the new law wont just affect consumers. Some TV and radio ads will be affected as well. TV commercials like the ones for freecreditreport.com will now be required to include the statement "this is not the free credit report provided for by federal law."