Risky borrowers usually are a cash cow for credit-card issuers, thanks to hefty fees and interest rates. But some of that revenue will dry up after President Obama signs new credit-card legislation Friday.

Companies that pitch plastic to customers with dented credit histories and issuers specializing in cards for retailers likely will be hit hard by the federal law, according to analysts. Major players in those niches run from banks such as Bank of America Corp., Citigroup Inc. and HSBC Holdings PLC to General Electric Co. and Target Corp. GE issues cards stamped with the logos of J.C. Penney Co. ...