When EXACTLY will over-the-minimum go to high APR balances?

[Anonymous]

Hello

Regarding the new law, when exactly will payments over the minimum go to my highest APR balance?  I hear that the laws go into effect on February 22nd.  So in which case will the multi-APR law work?

1. Payments made for statements printed on or after the 22nd?
2. Any payment made on or after the 22nd?

Thanks.

[Jazzzy]

Personally, I don't have a clue. I would recommend that you call your credit card company and ask them. They should be able to tell you.

[Lel]

On the disclosures that I've received from my credit card companies, they had an "effective date" for the changes that they were required to implement.  I don't have those disclosures with me (they're all at my office), but as I recall the dates didn't always fall exactly on February 22.  Sometimes they were to be implemented shortly before that deadline.

[creditwherecreditisdue]

It must apply to any payment 22FEB or later. It can be set earlier - some of my cards already have altered their agreements to conform to the new law.

[Anonymous]

Does anyone know about Citi bank?  They are the ones I want to pummel with payments to kill the high rate balances.

I called, but the idiot on the phone said he doesn't know.

[creditwherecreditisdue]

Consult the Cardholder Agreement for your account. If you can't find yours ask them to send you one.