The Latest Credit Cards Tips

Credit card rule changes

Posted in: Credit Cards

Credit card rule changes

As of yesterday – August 20, 2009 – some new rules for credit card companies are in effect.

The new rules deal mainly with monthly bills and how the credit card companies communicate with cardholders.

Here are details:

  • Credit card issuers must now mail cardholder bills at least 21 calendar days (used to be 14 days) before payment is due.

  • Credit card issuers must now give cardholders at least 45 days notice (used to be 15 days) prior to making major changes in the terms of the account, which includes, but is not limited to interest rate increases.

Expect further changes in the coming months, thanks to the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009.

See the latest credit card news


3 Responses to “Credit card rule changes”


  • red Says:

    When will all of the changes with credit cards go into effect? This is only some of the changes right?




  • Matt Says:

    Yes, these are only some of the changes that will take place. The remainder of the changes specified in the Credit Card Accountability, Responsibility and Disclosure Act (CARD Act) will go into effect in February 2010.




  • harold Says:

    What are the next changes that will take place? It is hard to figure out what to expect next with all of the conflicting news reports out there all of the time.




Comment on this Tip






Tips by Category

 

 




Consumers putting their money in different places now

Credit Card News

Consumers putting their money in different places now

A recent report from credit giant TransUnion took a look at where people are now putting their money and had some interesting findings. Read more



Credit Card FAQs



Credit Card Calculators

Credit Card Payoff Calculator
Credit Card Payoff Calculator

Use this calculator to see what it will take to payoff your credit card balance, and what you can change to meet your repayment goals.



you are here ›› hometipscredit cards
Personal Finance Tips - Credit Cards