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Love that new credit card bill

My favorite part of the credit card legislation passed by the Senate yesterday: If the bill is due on a Sunday or a holiday, no more late fees because your payment arrives the next day.
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My last credit card payment was due on both. A Sunday and a holiday. Easter Sunday.

I was mailing it close to the due date and that's when I realized it was impossible to get this bill paid on time. I then took out my old bills. The previous month, the due date was also a Sunday.

So of course I was late. More on that story later.

Here's a sense of how hard it was to get credit card reform moving into law.

“I’ve been in Washington twenty years. For the first 19 we couldn’t even get a committee vote on credit card reform," Ed Mierzwinski, consumer program director of U.S. Public Interest Research Group, said in an email.

I'll write more about the details after this legislation goes back through the House. It looks like it has plenty of good news for consumers.


POSTED IN: Your Money (119)

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C'mon Harriet,

Bank online and send payments electronically.

Best regards

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About This Blog

You've got the job of managing your money. No one in school taught you how.

But you and I, we can teach each other, how to handle it, how to save for retirement, how to make money... < More >

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance writer for the Sun-Sentinel, has been an award-winning business...< More >

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