Per the Wall Street Journal, here's the information your credit card statement will include. The idea is to force the consumers to see exactly how much interest the bank will get from them if they continue to make minimum payments. Also, how many months (divide that number by 12 to get the years) until the balance will be paid off!
Credit card companies will allow us 21 days from statement issue date to due date. It has been 14 days.
We can expect to see the return of the annual fee. Maybe some are too young to remember annual fees. Bob and I have paid as much as $75 a year for the privilege of using a Visa years ago. We currently pay $40 a year for our small business American Express card. The difference is it's deductible against our company's income.
'til later
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