Proposals by federal bank regulators would zap questionable credit card practices.

But while consumer advocates say the proposals are good first steps to rein in abusive tactics, card issuers bristle they will drive up costs and make credit less available.

John Ulzheimer, president of consumer education for credit.com, a credit education and financial services Web site, says the truth is likely somewhere in between. He said many card practices were clearly arbitrary. But he said card issuers may try to recoup profits by charging more.

Still, the proposals are remarkable in that federal regulators have for years given the card industry a long leash.

“The proposed rules are intended to establish a new baseline for fairness in how credit card plans operate,” said Federal Reserve Chairman Ben Bernanke this month.

So how might the proposed changes affect you? Here is Ulzheimer’s take on four key reform proposals:

Universal default: This tactic stings a lot of unsuspecting consumers. Under this practice, card issuers raise the interest you pay on their credit card based on your performance on other credit cards. It’s like getting a speeding ticket in Kansas, but also having to pay a fine in Missouri.

Card issuers last year told Congress they were backing away from the practice. But, Ulzheimer said, “they found another way to skin a cat.” Some card issuers began raising interest rates if they found a ding on a consumer’s credit report, even if the problem had nothing to do with the consumer’s credit card.

Ulzheimer said the use of this practice caused some consumers’ interest rates to double and triple — in some cases from 7.9 percent to 29.9 percent.

Under the new rules, card issuers could only jack up your rate if you miss payments on their card.

Grace periods: Maybe you’ve noticed the time you have to pay your bill getting shorter. Some readers have complained their grace periods have shrunk to as short as 14 days. That’s less than half what they used to be a decade ago, when most were about 30 days.

Card issuers have been pretty upfront about reducing grace periods. But they also haven’t announced them with much fanfare, notes Ulzheimer. So many consumers are pretty surprised when they find out.

Some card issuers have shortened grace periods to people who pay off their balances each month. The reason, Ulzheimer said, is the card issuers don’t make any money off these good citizens, and so want their money back as quickly as possible to invest it somewhere else.

Under the new rules, card issuers could not report you late until they’ve given you at least a 21-day grace period.

Double-cycle billing: This complex tactic is hard enough to explain, much less understand. No wonder most people ignore it, even when they end up paying for it.

It basically works like this: Instead of figuring your interest rate over one month, a card issuer may use your average balance over the previous two months to figure your rate.

That means that if you carried a balance two months ago but paid it all off this past month, you’d still have to pay interest. It’s like getting double billed, say critics.

Under the new rules, this practice would also end.

Borrow low-pay high: This profitable tactic relies on the fact that you can often end up with multiple interest rates on your card. You might pay a 15 percent rate on current purchases but pay a low promotional 3.5 percent rate on debt you transferred from another card.

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