Your credit card statement must state how long it will take you to pay off the existing balance due when paying only the minimum amount each month.

Question

Quizplus · Accepted Answer

Credit card statements are required to include information on how long it will take to pay off the existing balance if only minimum payments are made each month, as well as the total cost of making only minimum payments, as part of consumer protection laws aimed at providing transparency and helping consumers understand the implications of their payment choices.

Your Credit Card Statement Must State How Long It Will