Credit card laws are changing, so you must read every update in your cardholder agreement carefully. Banks usually send these changes by mail, but many people ignore them. As a result, they miss important details that affect their payments and interest rates.

For example, GE Money Bank has updated some of its credit card terms. Earlier, the bank allowed up to two late payments before applying a delinquency rate. Now, the bank can apply this higher rate after just one missed payment. Because of this change, paying your credit card bill on time has become even more important. Staying informed helps you avoid higher interest charges and unnecessary financial stress.