Friday, July 16, 2010

Infograph: Credit Card Statement Changes

I'm sure many people are aware that as of July 1, your credit card statement has to meet specific formatting guidelines laid out by the Federal Reserve. These requirements are part of a larger set of rules put into place by the Fed in 2008. Five Cent Nickel created this infograph to illustrate the changes that I'd like to share.

While the new reporting requirements for credit cards statements will be helpful to some people, I don't suggest carrying credit card balances in the first place if you can, it's no fun at all paying them down, I speak from experience. It's only fun to the watch interest grow on investments and savings : )


Anonymous said...

I agree, it's not fun at all watching credit card interest accumulate!