A recent survey found less than half of consumers nationwide are aware of the Credit CARD Act of 2009 that goes into effect on Feb. 22.

Forty percent of consumers know credit card companies must now give a 45-day advance notice to changes in credit card rates, terms and conditions, according to results from the Norwalk firm FreeScore.com’s consumer awareness study on the Credit CARD Act of 2009.

The new law aims to protect credit card users from practices such as abrupt rate increases, retroactive rate increases, and double-cycle billing, where customers are charged interest on debt that’s fully paid off during the grace period, according to a statement.

"We’re within two weeks of the Credit CARD Act of 2009 going into full effect, yet less than half of Americans are aware of the legislation," said Carrie Coghill Kuntz, director of consumer education for FreeScore.com. "Despite the act and the protection it offers consumers, people must still read the fine print. Consumers should expect lots of calls from credit card companies in the coming months."