Statement Changes Due to Credit Card Act

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As you may have heard, The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 was passed in May to provide additional credit protection for consumers. While many of the new provisions will go into effect in February 2010, there are some changes you’ll notice before then.

Part of this new legislation specifies that creditors, including Vantage, must give consumers clear disclosures of account terms before the opening of an account, and clear statements of account activity afterwards.

Another of these changes involves loan information on your monthly statement(s). On all loans, we're required to disclose additional information including Maximum Credit Line and Available Credit, and if applicable, Past Due Amount, New Payment, New Balance and Total Payment Due.

More information concerning other aspects of the Credit CARD act.

 Here are the changes you'll see on your statement if you have loans with Vantage:

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