James Ramone | September 9, 2010

American Express changes late payment policy

American Express, recently deemed the most popular logo among consumers, has changed its late payment policy after receiving criticism from members and industry analysts alike.

Previously, cardholders that were just a few days late on payments were considered past-due, causing them to accrue more debt from interest. Now, American Express has extended its policy to consider those up to 30 days late, but they are one of the few.

A number of the country’s largest credit card companies, such as Bank of America, Capital One and Chase, varied regarding to the length of time they gave customers to make a payment, The Street reports. Financial analysts say that the Credit Card Accountability, Responsibility and Disclosure Act was supposed to set fair standards across the board, but many issuers are still making money from sticking to old tactics, such as penalty fees.

The best way consumers can stay out of credit card debt is to make bill payments in a timely manner, The Street says. Delinquent payments may also cause credit score damage.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice. Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation