Deadbeats beware!

Credit card companies refer to customers that pay off their balance each and every month as "deadbeats" because these customers do not incur any finance charges and the bank only can pick up 2% or so from the merchant. The new CC law will give the CC company an opportunity to drive these deadbeats out of the fold and let them concentrate on those that do not mind paying more for the same item.
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To make up that shortfall, issuers can, and likely will, make a host of changes not addressed by the legislation. Experts predict issuers may charge annual fees, increase interest rates and other fees, lower credit limits, scale back rewards programs and even reduce grace periods. Hammer thinks grace periods will shrink from their 20-day average and eventually disappear. That means interest would accrue as soon as you made a purchase.
Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable, a national trade association made up of banking, securities and insurance firms, agrees that interest-free periods could shorten but called their end unlikely.
If banks do kill the grace period, they will remove a big reason for so-called "deadbeats" -- people who don't carry balances -- to use credit cards. Without any float time, this segment of cardholders may switch to other payment options, such as cash and rewards debit cards.
http://www.bankrate.com/nltrack/news/advice/20090527-cc-adviser-new-law-good-customers-a1.asp