Understanding the new credit card rules
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5 new rights for credit card users

No more due date ambiguity
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Date on calendar circled for payment due date

No longer can card issuers change the due date for payments from one month to the next or set an arbitrary cutoff time on the due date. The CARD Act requires that the due date be the same date each month, and the cutoff time be no earlier than 5 p.m the day the payment is due. In addition, issuers cannot treat a late payment as such unless it delivered the billing statement to the customer 21 days in advance of the due date.


 

 

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Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

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