Despite what the catchy jingle that’s now stuck in all of our heads implies, not all “free” credit reports are actually free. And a free credit report every year from each of the 3 credit bureaus is what the law entitles you to—no enrolling in a trial service, becoming a member of anything, or paying any type of fee.

Unfortunately, the official site for obtaining your free reports doesn’t have the most obvious name: AnnualCreditReport.com. And though there’s no catchy jingle to help you remember it, there’s also no “free” trial memberships or sneaky fees. Be aware though that credit scores are not included.

As the February implementation deadline for the Credit Card Act of 2009 draws near, many card issuers are scrambling to come up with ways to replace revenue they will lose under the Act. Here are some things to be watching for:

Annual Fees. Although MidWest Financial does not charge an annual fee of any type for its card, other banks are finding sneaky ways to charge annual fees. For example, we have seen one report that Citibank has begun charging some customers a $35 fee unless they meet an annual minimum spending amount of $2,400.

Fee Hikes. The Act eliminated some fees that Congress considered abusive, such as over-limit fees. But it doesn’t affect all fees–for example, Balance Transfer fees are not addressed. Industry wide, these fees have been hovering around 3% for quite some time now; however, last year Bank of America increased its Balance Transfer fee to 4% and JP Morgan Chase recently raised its fee to 5%. MidWest Financial does not currently charge a Balance Transfer fee.

New Fees. Some card issuers are spending time dreaming up completely new fees (think of the airline industry with its now ubiquitous baggage fees). For example, Fifth Third Bancorp recently began charging a $19 inactivity fee for customers who don’t use their card at least once a year. MidWest Financial has no plans to add fees at this time.

What can you do? Make sure you watch your mailbox for anything from your card issuers, as it could be a notice regarding fees or a change in terms. Read all of the information you are sent to make sure you fully understand the changes. Depending on what those changes are, you may even want to consider shopping around for a new card.