Dear Friends,

For too long, credit card companies have lured people into abusive financial traps. When Congress passed the Credit Card Accountability, Responsibility and Disclosure (CARD) Act last spring, we had one goal in mind—to protect consumers. As a result of that legislation, several measures to protect you as a cardholder recently went into effect.

• Interest rates cannot be raised until one year after an account has been opened, and an “introductory rate” must stand for at least six months before the contract reverts to the regular rate.
  
  
• The credit card company must send a notice at least 45 days in advance before any rates or fees are raised. You also must be given the option to cancel the card before the increases occur.
  
  
• Due dates for your payments cannot be moved up without warning, and the credit card companies must mail your statement at least 21 days before your payment is due.
  

As always, please continue to keep me informed of your opinions and concerns by phone at (202) 225-2731 or by visiting my website at www.house.gov/mcintyre.

Sincerely,



U.S. Congressman Mike McIntyre
Representing the 7th District of North Carolina

Lumberton, NC
500 North Cedar Street
Lumberton, NC 28358
(910) 735-0610
fax (910) 739-5085

Fayetteville, NC
301 Green Street, Room 218
Fayetteville, NC 28301
(910) 323-0260
fax (910) 323-0069