Secured credit cards and how to discover more
The old limit was 15 days' warning, a term that was so short that consumers often didn't receive the letter warning them of oncoming changes until the date of the change had arrived. This change will let you know in advance what's happening with your student credit cards, instead of letting companies surprise you with belated announcements in your mailbox. * Credit card companies must mail out statements substantially earlier than before, giving consumers at least 21 days to pay their bills. This will put an end to the old trick of sending out statements too late for the customers to pay them on time, resulting in late fees, interest rate hikes, and other penalties that put more money in the companies' pockets and destroy consumers' credit ratings. This change also makes it easier to pay your student credit cards on time.