dcsimg

July 1st Credit Card Statement Changes Explained

By , CardRatings contributor
  • Google +
  • Twitter
  • Facebook

Due to the Credit CARD Act, as of July 1, 2010��credit card��issuers are��required to tell cardholders how long it will take to pay off the balance if they pay only the minimum payment and����how much total interest they will pay in that time--along with other��changes that make statements easier for consumers to understand.

Below is a sample statement, from the Federal Reserve, that illistates those changes. Mouse over the number��to read the details for each part of the statement.

0 Responses to "July 1st Credit Card Statement Changes Explained"

No Comments

Leave a Comment
 
 
 
About Our Ratings ×

Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. Ratings vary by category, and the same card may receive a certain number of stars in one category and a higher or lower number in another.

The ratings are the expert opinion of our editors, and not influenced by any remuneration this site may receive from card issuers.

Advertisers in our database are highlighted, and advertisements include an option to apply using links on our site. CardRatings.com may be compensated by companies mentioned on the site when a user's application is accepted or approved by such companies.

How do your cards stack up?

Compare your card starting here

NEXT »

Featured Partner Cards

loading