6 guaranteed rights for every credit card holder

At credit card companies, the money does not always have the same performance. Several laws exist that protect consumer rights with credit cards. Exercise your rights with your credit card. You never know when to remind a credit card company to follow the law.

 

Make unbiased decisions when applying for new loans

Make unbiased decisions when applying for new loans

When you apply for credit, credit card issuers cannot discriminate against you because of your gender, race, religion, nationality, age, marital status or whether you are receiving public support.

The credit card issuer can deny your credit card application if you do not meet the legal age of a credit card forever. Credit card companies cannot deny your credit card application because they receive public support and they have let public support included in your income.

Credit card companies will tell you the result of your credit card application within 30 days. If your application is rejected, she must tell you why and give 60 days to find out why your application was rejected. You are also eligible for a free credit score if your credit card application is denied or if you are approved but on less favorable terms.

 

Accurate and timely credit card statements

No liability for unauthorized credit card fees

Credit cards have a bill at least 21 days before the due date, enough time to mail your payment on time and to take advantage of the grace period if you have one. Your billing includes credits and fees to your account since the last billing. It will also match your minimum payment, the due date, and some information about late payments, and the impact of making the minimum payment.

You have the right to contest billing errors. If your credit card statement has a mistake, you usually have 60 days to contest the mistake with the credit card company. Although many credit card issuers take a dispute over the phone, you must make your dispute in writing to ensure your rights are fully protected by law.

 

No liability for unauthorized credit card fees

If your credit card is used without your consent, you can reduce your liability for the cost by taking certain actions. First of all, you should be missing your credit card report as soon as possible. You won’t be responsible for any of the unauthorized fees if you report your credit card stolen before the thief gets a chance to use it, but you could be liable up to $ 50 if you report the loss late. You are not responsible at all for using your credit card number only if you still have the credit card in your possession.

 

The ability to view and correct your credit report

Your credit card issuer can report details about your credit card and your payment history to a credit bureau, also called a credit bureau or credit bureau. You have the right to view your credit report and make sure that the information on your credit card report is accurate. You can dispute any incorrect information with the credit bureau or with the credit card company.

 

Advance notice of any change to your credit card contract

Advance notice of any change to your credit card contract

Credit card companies sometimes make major changes to the credit card contract, such as increasing your interest rate or introducing a new annual fee. You have the right to reject these changes and withdraw your credit card under the current conditions. The credit card issuer must send your a 45-day pre-notification before a significant change takes effect. They must also give you instructions on how to opt-out of these changes.

 

How To Deal With a Violation of Your Credit Card Holder’s Rights

You can file a complaint against a credit card issuer that violates your rights with the appropriate regulatory agency. The Consumer Financial Protection Bureau is responsible for enforcing laws for credit card companies. For now, complaints about debt collectors and credit bureaus continue to be sent to the Federal Trade Commission. Several different agencies regulate credit card companies, such as the National Credit Union Administration. You can also file a complaint with these agencies.

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