It seems Obama has a bit more to say on credit cards. From his website:

  •  Create a Credit Card Rating System to Improve Disclosure: Obama will create a credit card rating system, modeled on five-star systems used for other consumer products, to provide consumers an easily identifiable ranking of credit cards, based on the card’s features. Credit card companies will be required to display the rating on all application and contract materials, enabling consumers to quickly understand all of the major provisions of a credit card without having to rely exclusively on fine print in lengthy documents.

I did a bit more reading and it seems that under the Obama plan, the Federal Trade Commission would assess the degree to which credit cards meet certain ‘consumer friendly’ standards. Unfortunately, the exact factors on which cards would be rated is not mentioned.