The Credit Card Accountability and Disclosure Act (CARD) regulates credit card billing cycles by:

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Under the Credit Card Accountability and Disclosure Act (CARD), double-cycle billing is banned, and statements must be mailed out 21 days before the payment due date. Card applicants under age 21 years must have a cosigner unless they can prove they can independently make payments. Under rules effective in August 2010, a penalty fee for late payments or other breaches of credit or debit cards cannot exceed $25 unless there are repeated violations. The fees cannot exceed the minimum balance due.

The Credit Card Accountability and Disclosure Act (CARD) Regulates Credit