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All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

  • You are in default on the account if:

    1. You do not make any payment when it is due; or
    2. You have exceeded one or more of your credit limits; or
    3. A payment you make is rejected or cannot be processed; or
    4. You provide us false, misleading, or fraudulent information; or
    5. You fail to comply with any term of the contract; or
    6. You are bankrupt or insolvency proceedings are filed against you; or
    7. You die or are legally declared incompetent or incapacitated; or
    8. We become aware that you are using your card for illegal or fraudulent purposes.

    If governing law requires us to, we will give you notice and/or a right to cure your default before taking any action because of your default.

    Consumer Financial Protection Bureau - Cite This Source - This Definition

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All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

  • The due date is the date by which we must receive your payment in order for it to be on time. Your bill lists the due date.

    Your due date will always fall on the same calendar day of the month. It will be at least 21 days from the date that we send you the bill, and at least 25 days from the end of your most recently ended billing period.

    To be on time, we must receive your payment on or before the due date and by the time stated on your bill. If the bill does not state a time, then your payment is on time if we receive it by 5 pm on the due date. The 5 pm deadline is measured in the time zone in which we receive the payment, which may not be your time zone.

    If we do not receive or accept payments by mail on the due date, your payment will be on time if it is received by the next day that we accept or receive payments by mail.

    Consumer Financial Protection Bureau - Cite This Source - This Definition
  • Browse Related Terms: Bill, Billing period, Due date, Fixed-rate APR, Grace Period, index, Late payment, Minimum interest charge, Minimum Payment, Variable-rate APR

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