08.25
In May, President Obama signed the bill into force of the credit card, liability and protection. The law was enacted to protect current and future owners against unfair practices, and industry standardization. The first of three phases was held today.
Before today, were billing the credit card is required for the bill within 14 days after the due date. Now the owner charges 21 days before the due date. This is good news for homeowners, especially if you travel or pay online. You now have more time to obtain payment of .
Price changes take place from 15 days to inform you of a sentence about the change (sometimes retroactively), companies must now cancel 45 days. I can not tell you how important it is for scenarios I’ve seen in some families is based. For those who are struggling to pay the minimum payment, it is a real tragedy if the rate increases significantly because it increases the minimum payment. Many were forced to default. Now with the extra time to try to give consumers the ability to negotiate such, you pay the balance off another credit card or with the rest.
Even better, if you change the speed you disagree, you now have the ability to freeze the current rates. Your account will be closed by the new rates, but not five years to repay the rest.
What this means for you:
As a cardholder you will be treated as a talent and more time with their creditors. However, do not take this as a free pass to doubt. It is also important to receive these payments on time, and take appropriate steps to increase. Benefits of taking your time to your advantage and decisions for your portfolio. Is always your money!
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