Credit CARD Act of 2004

Credit Card Accountability Responsibility and Disclosure Act of 2004, or the Credit Card Act of 2004 - Amends the Truth in Lending Act (TILA) to require advance notice of any increase in interest rate regarding a credit card account under an open end consumer credit plan. Grants the credit card holder the right to cancel the account before the effective date of the increase.

Prohibits penalties, finance charges, interest charges, or cancellations from being imposed for: (1) on-time payments; (2) payments in full; or (3) over-the-limit fees for creditor-approved transactions.

Requires specified disclosures for annual percentage rates of interest that only exist for a limited time (introductory or "teaser" rates).

Requires certain disclosures regarding: (1) pay-off timing in connection with repayment of the outstanding balance; and (2) late payment deadlines and relevant postmark dates.

Amends Federal bankruptcy law to provide that debts under an open end credit plan incurred on or within 60 days before the order for relief are not subject to statutory exceptions to a discharge in bankruptcy if the annual rate of interest charged on the account was more than 20 percentage points above the Federal prime lending rate on the last day of month during which the interest was charged (thus providing the debtor with a legal means of avoiding an abusive rate of interest).

Amends TILA to set forth specified requirements governing credit card applications from underage consumers.

Subjects creditor violations relating to an open end credit plan that is not secured by real property or a dwelling to twice the amount of any finance charge in connection with the transaction, or to such amount as may be appropriate in the case of an established pattern or practice of such violations.