Credit cards: disclosures.

Existing law, the Areias Credit Card Full Disclosure Act of 1986, requires a credit card issuer, with each billing statement provided to a cardholder in this state, to provide certain information on the front of the first page of the billing statement. This bill would require a credit card issuer, on the front page of a billing statement, also to provide written statements disclosing that a missed credit card bill payment can affect a cardholder's credit history, credit report score, and ability to acquire more credit, and disclosing how a credit score is typically calculated using payment history, amounts owed, length of credit history, new credit, and types of credit used.