[TWilliam]

Just kinda curious what thoughts anyone might have on this development with regard to the general state of current affairs in the financial world.

We received our latest J.C.Penney bill the other day (yes, yes I know. I made the wife swear off the card many months ago), and apparently they have just instigated a 23 day billing cycle. I noted a comment elsewhere online that their credit accounts are apparently handled through Citibank, tho' I've not bothered to confirm if this is in fact true.

Comments?

[jasonraymondson]

CareCredit/GE Money has also done the same thing.


I am surprised they haven't moved to a 14 day cycle, think of all the extra late fees they can now get.

[Sixstrings]

Huh, that sounds rather desperate. Folks are used to monthly bills, so change the dates around to score up some late fees.

[Lanthanide]

Pretty much all the credit cards here are on 55 day bill cycles. A few years ago some were on 45 or 30 days, but I don't think there are many like that left at all.

[perdition79]

Shortening the cycle by seven days gets them roughly three more payments a year. It points to insolvency. Of a credit agency.

Let me repeat that: insolvency. Of a credit agency. You know it's bad when even the moneychangers can't stay afloat.