Which of the following is a requirement for credit card issuers under the Credit Card Act of 2009?

The requirement for credit card issuers under the Credit Card Act of 2009 includes the obligation to send a monthly bill at least 21 days before the due date. This regulation was implemented to enhance consumer protection by ensuring that cardholders have sufficient time to review their statements and make payments on time, thereby reducing the likelihood of late fees and negative impacts on their credit scores.

The importance of this provision lies in promoting transparency and accountability from credit card companies. By requiring a minimum notice period before payments are due, consumers are better equipped to manage their credit and financial responsibilities effectively.

Other options, while they may encompass desirable features in the credit marketplace, do not represent requirements mandated by the Act. For example, providing rewards for every purchase or offering zero percent interest rates are not specified in the legislation. Similarly, while simplifying the repayment process is beneficial, it is not directly enforced by the Act in the same manner as the notification timeline for billing statements.