Bank of America was the first company to freeze its rates. Both moves come after outrage over credit card companies jacking up rates, increasing minimum payments and raising penalty fees before the new consumer protection law -- which would bar sudden increases -- is phased in.

Rep. Betsy Markey, D-Colorado, and 17 other lawmakers sent letters to credit card banks asking them voluntarily to freeze their rates while Congress decides whether to move up the phase-in date for the new law to December.

Markey said a CNN report about Ohio couple Chuck and Jeanne Lane inspired her to act. The Lanes said they did everything right but felt bankrupted by a sudden change in their credit card payments.  Watch more on the credit card outrage »