BROOKLYN - New laws designed to give consumers more awareness and rights with credit card companies went into effect Monday.

The legislation makes it more difficult for companies to raise interest rates unless a payment is 60 days late. It also eliminates rate increases on accounts that are less than one year old.

Additionally, credit card companies must notify cardholders as to how long it will take to pay off the full balance if only minimum payments are being made.

The new rules also prevent anyone under 21 from obtaining a card without a co-signer or proof of sufficient income.