As you may be aware, Congress just passed a credit card reform bill that helps protect consumers, such as you and I, from the big bad credit companies. Although this bill has gotten almost unanimous support from law makers, there have been a few who aren’t happy with the new regulations.

Take Edward Yingling (CEO of the American Bankers Association), for instance, who stated that it would “undermine the availability of credit” by restricting individual institutions’ ability to price credit against risk. Oh. my. god. You mean banks would actually have to only give credit to people who can manage it?? The horror!

In the age of the credit crunch, credit scores are the passport to your financial future. The new year has brought many things, and with it, a new scoring model. We spoke to Ken Lin, CEO of Credit Karma (a website that lets you check your credit score for free — anytime, anywhere) about the change in the FICO credit scoring model to get a better idea of what the changes are and how they will affect you.