Recently I received a brochure from Capital One’s credit card division that summarizes the changes made on their monthly statements, as a result of the new credit card regulations. All credit card issuers have made similar changes, therefore I thought that a visual representation of the “new credit card statements” would be helpful in showing everyone what to expect.
There are 5 types of changes:
- A new account summary box to help you find the most important info at a glance: New Balance, Minimum Payment, Due Date.
- Calculation of how long it would take to pay off balance if paying only minimum payments.
- Clearly stated late payment warning to let you know what happens if your payment is late.
- Two transaction columns on the 2nd page require less paper.
- A separate section detailing fees and interest charged each month and early totals