Most new credit cards are sent in a de-activated state to the mailing address you provided on your application. This is to prevent unauthorized use should the card be stolen in the mail before you receive it.

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Yes, even though you may have paid off and closed your credit card account, there could have been residual interest from previous balances. Residual interest will accrue from the last statement cycle date until the bank receives your payment.

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No. There is no Federal law that requires credit card companies to provide notification. The best way to protect yourself is to review your accounts and statements regularly, and notify the bank immediately if you spot any irregularities.

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Yes. Your income is one measure of your ability to repay the credit card you’re applying for. The request of this information is a safe and sound banking practice used by all credit card companies and banks.

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Generally, unless a cut-off time is specified, payments must be credited on the date received. Check with your credit card company about its policies. For more information, review the Account Agreement provided when the account was opened.

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