Credit card companies long ago adopted the same tactics as hoodlum drug dealers on the street corner. Pushers may get people hooked on pot, for example, but the real money is in cocaine or meth or what have you. So a drug dealer will give you a free sample of the big-money items to lure you in and create a new revenue stream.

Banks do the exact same thing with credit cards. For years, they deluged your mailbox with debt solicitations. Once you were hooked, they would turn around and raise the interest rates on your existing balances.

But that practice may soon be coming to an end. The House, in a 312-112 bipartisan vote, approved what's being called the "Credit Cardholders Bill of Rights Act" -- and the bankers are squealing like pigs. The bill would halt rate hikes on existing balances. In addition, it would require 45 days of notice if there is to be any interest rate change at all for future balances.

There's another provision of the bill that Clark's particularly pleased about. His American Express bill showed up 4 days before the due date -- fortunately he pays online! Under the bill, banks would have to mail statements 25 days before the due date.

Now the bill goes to the Senate. You just know the banks will be using dirty money to prevent the bill from coming up for vote. The president has indicated he'll veto the bill, but it won't do him any good if it passes both the House and the Senate with a veto-proof majority. That's why the Senate will be a key battleground.