Credit card issuers must begin disclosing the cost of making minimum-only payments. Billing statements must include this statement (or something similar to it): “Minimum Payment Warning: Making only the minimum payment will increase the amount of interest you pay and the time it takes to repay your balance.”

The billing statement must include:

· The number of months it would take to repay the balance if only minimum payments are made.

· The total cost of making minimum only payments based on the current interest rate. The billing statement must include the total amount of principle and interest paid.

· The monthly payment required to repay the balance within 36 months along with the total interest and principle paid on a 36-month repayment plan.

· A toll-free number you can call for information about consumer credit counseling.

This information must be displayed in a table where you can read it. It can’t be hidden somewhere on the billing statement where you are unlikely to find it.