Under the Credit Card Accountability, Responsibility, and Disclosure Act

Under the Credit Card Accountability, Responsibility, and Disclosure Act:

A) a customer must be more than ninety days overdue on payment before the credit card company may impose a penalty rate increase on an existing debt.
B) if a credit card company lawfully increases its interest rate on a customer because of overdue payments, the rate must be restored to the prior rate if the customer makes at least the minimum payment on time for the next six months.
C) credit card companies must mail account statements 24 days prior to the payment due date.
D) if the credit card company receives payment after 3 p.m., the payment may be credited the following business day.

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