New consumer credit products work a lot like credit cards. (bigcommerce.com)
This practice isn't anything new, says Richard Bialek, who led credit card units of GE Money and is the former senior vice president of consumer credit products at Visa International. (creditcards.com)
According to Cynthia Balser, group manager of consumer credit products at KeyBank, «Somewhere between six to 12 months before the end of the draw period, banks are beginning to reach out, reminding clients that a decision they made 10 or 15 years ago is about to come due and asking the client to reach out if they have any concerns or questions.» (rismedia.com)