American Credit Card Reform Act

American Credit Card Reform Act - Amends the Truth in Lending Act to prohibit the annual percentage rate (APR) applicable to any extension of credit on an open end consumer credit account from exceeding 14%.

Prohibits a credit card issuer from imposing any fee or penalty in connection with a transaction initiated by a consumer in which credit extended under such credit plan is applied to reduce an outstanding balance on another credit card account of the consumer.

Prohibits a credit card issuer from: (1) advertising any credit card account on the grounds of an institution of higher education through the distribution of written applications or solicitations; or (2) amending or changing the terms of a credit card contract so long as the consumer remains in full compliance with the contract's existing terms.

Prohibits the due date for any periodic payment on an outstanding credit card balance from being less than 30 days after: (1) the date of the postmark on the envelope in which the periodic statement was sent to the consumer; or if no postmark appears on the envelope, (2) the date that is three days after the closing date of such periodic statement.