How frequently must credit card companies send out billing statements to consumers?

Credit card companies are required to send out billing statements to consumers at least once a month. This requirement is established by the Credit Card Accountability Responsibility and Disclosure Act (CARD Act). Monthly statements provide consumers with important information regarding their account activity, including purchases, payments, interest rates, and any fees incurred during the billing cycle. By receiving these statements monthly, consumers are better equipped to manage their credit and make informed financial decisions.

The other intervals listed, such as two months, three months, or annually, do not meet the regulatory standards set forth by the CARD Act, which emphasizes the importance of regular communication to help consumers avoid excessive debt and stay informed about their credit obligations.