(Undated)  --  Credit card issuers are taking advantage of loopholes in the new credit reform bill signed last month by President Obama.  While the so-called Credit Card Holders Bill Of Rights limits the way issuers can raise rates and fees on existing debt it doesn't put any cap on the overall interest rates and fees charged for plastic.  "USA Today" reports as a result increases in credit card rates have been widespread recently.  Both Bank of America and Chase have bumped balance-transfer fees from three-percent to four-percent for B of A and five-percent for Chase which is also stretching the definition of who can be hit with a penalty interest rate. 

Analysts say the recent hikes are both in reaction to the new restrictions that go into effect next April and to an increasing number of defaults on credit card debt.  Industry watchers say about the only thing consumers can do is keep a very close eye on the fine print in bills and contracts with card issuers.