(1) notify a consumer in writing at the time he opens a new account of his right to dispute billing errors;

(2) provide a statement to a consumer for each billing period in which he owes more than $ 1;

(3) send a bill at least 14 days before payment is due, if there is a period within which the bill may be paid without incurring an additional charge;

(4) credit all payments to a consumer's account on the date they are received, unless no extra charge will be incurred if a payment is credited on another date; and

* Creditors may make reasonable rules for making payments, such as a rule setting a reasonable deadline for receipt of a payment in order for that payment be credited on the same date.

(5) promptly credit or refund overpayments and other amounts of more than $ 1 to a consumer's account.

* A refund must be sent within seven days after a creditor receives a consumer's written request for the refund. A creditor must make a good faith effort to refund a credit balance that has remained on a consumer's account for more than six months.

Copyright 2010 LexisNexis, a division of Reed Elsevier Inc.