Although most of the 2009 Credit CARD Act's major provisions don't take effect until early 2010, bill-paying procrastinators have something to cheer about already. Effective August 20th, you now have more time to get that credit card bill paid after your credit issuer delivers your monthly statement - make that a whole week of extra time.
In the past, creditors were only required to give you 14 days to pay up after your monthly statement was postmarked or delivered electronically. However, the new rules have pushed that requirement up to at least 21 days now.
In order to maximize the amount of time you have to get your financial house in order, don't forget to first sign up for online account access and electronic statement delivery on all your credit card accounts.
