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credit card application, terms and conditions of credit
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Posted about 1 year ago in Debt / Lending Agreements
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credit card agreement at time of application:
what are the laws concerning giving me the terms and credit agreement at the time I apply for the card?
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Answers (1)
Lu Ann Trevino
This attorney is licensed in Texas.
Posted about 1 year ago.
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Generally speaking, the laws governing credit card issuers are those of the state in which the issuer operates. If the bank card issuer is located in Delaware, then it is bound by Delaware law not not the law in the state where you live. Most card issuers are located in Maryland, South Dakota, and Nevada where the laws are very favorable to them.
As a practical matter, you r application for a credit card is approved and sent to you with the terms and conditions. If you do not agree to them, you must reject the agreement in writing BEFORE you use the card. Use of the card indicates your acceptance of the terms. |
