Read Us 24×7
    What's Hot

    Socialmediagirls: How To Join The Socialmediagirls Forum?

    May 30, 2023
    Farmgirllacy

    Farmgirllacy: Bio, Age, Career, Net Worth, and Fascinating Facts

    May 30, 2023
    Renee Winter

    Renee Winter: Bio, Career, Boyfriend, Jobs, Networth & Facts

    May 30, 2023
    Facebook Twitter Instagram Pinterest LinkedIn
    Trending
    • Socialmediagirls: How To Join The Socialmediagirls Forum?
    • Farmgirllacy: Bio, Age, Career, Net Worth, and Fascinating Facts
    • Renee Winter: Bio, Career, Boyfriend, Jobs, Networth & Facts
    • Emerging Trends in Hardware Technology: A Comprehensive Insight
    • 66EZ Slope Unblocked Games: Features, Benefits, and Limitless Fun
    • Best 5 Apps Like Uber: Check These Great Alternatives in 2023!
    • Skillmachine.net: A Comprehensive Guide to Login and Signup in 2023
    • SWatchSeries Review 2023: Elevate Your Entertainment Experience Today
    Facebook Twitter Instagram Pinterest LinkedIn
    Read Us 24×7
    • Home
    • Technology
      Lasit

      Emerging Trends in Hardware Technology: A Comprehensive Insight

      May 30, 2023
      Podcast Lighting Perfection

      Podcast Lighting Perfection: Mastering LED Neon Sign Backgrounds for Your YouTube and Podcast Studio

      May 26, 2023

      How To Know If Someone Is Recording Your Call?

      May 26, 2023
      How to Unsync the iPhone

      How to Unsync Two iPhones [Updated Guide 2023]

      May 25, 2023
      How to Flip Camera During a FaceTime Call

      How to Flip Camera During a FaceTime Call?

      May 23, 2023
    • Business
      AI Stocks

      Top 10 AI Stocks To Invest In For 2023: A Comprehensive Guide To Artificial Intelligence Investing

      May 17, 2023
      Social Network For Your Business

      Choose The Right Social Network For Your Business

      May 7, 2023
      Why AMD Stock Crashed on Wednesday

      Understanding The Reasons Behind The Recent AMD Stock Crash

      May 5, 2023
      Top Forex Brokers

      5 Top Forex Brokers That Are Perfect To Trade With From Different Locations

      May 5, 2023
      First Republic Bank Shares Plunge Over 50 Percent One Day After Earnings Report

      The Fall of First Republic Bank: Lessons for Banking Today (Expert Analysis)

      May 2, 2023
    • Entertainment
      Farmgirllacy

      Farmgirllacy: Bio, Age, Career, Net Worth, and Fascinating Facts

      May 30, 2023
      66EZ Slope Unblocked Games

      66EZ Slope Unblocked Games: Features, Benefits, and Limitless Fun

      May 29, 2023
      Ginny and Georgia Cast Ages

      Ginny and Georgia Cast Ages: The Surprising Real Ages of the Cast from the Hit Show

      May 25, 2023
      How to Get Unlimited Spins in Coin Master

      How to Get Unlimited Spins in Coin Master: Truth Revealed 2023!

      May 23, 2023
      William Tongi

      Hawaii High Schooler Iam Tongi Wins American Idol 2023

      May 22, 2023
    • Lifestyle
    • Travel
    • Tech Q&A
    Read Us 24×7
    Home » What are Your Rights as a Credit Card Holder?
    Business

    What are Your Rights as a Credit Card Holder?

    Sayan DuttaBy Sayan DuttaNovember 17, 20214 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Reddit Email WhatsApp
    Credit Card Holder
    Share
    Facebook Twitter LinkedIn Pinterest Email Reddit WhatsApp

    Many inexperienced credit card holders can find themselves in over their heads with debt quickly. Often, their slide into overwhelming debt is due to not understanding their rights and obligations to creditors before signing up for a new card. Consequently, they misuse their available credit and end up with mounds of debt, a reduction in their credit score, and few options for getting back to square one.

    If you’re considering a debt consolidation loan for bad credit to get a more stable financial situation, you’re off to a great start. But staying informed of your rights, no matter your credit score, is crucial for building better credit practices. Thanks to an increased priority for passing laws that protect consumers, every cardholder in the United States can count on these protections:

    Check also: How to Remove a Credit Card From Amazon

    The right to not be discriminated against

    Your credit application cannot be denied due to race, religion, nationality, marital status, if you receive public assistance, or age (unless you’re a minor). If your credit application is denied, you have the right to find out why. Credit card companies must issue an explanation of why you’ve been denied within 60 days of processing your application.

    Check Best Offer on Myindigocard

    The right to receive full information disclosures

    Thanks to the Truth in Lending Act, any credit card offer you receive must include full disclosure of interest rate, annual percentage rate (APR), late fees, annual fees, and differentiate promotional rates from standard. In addition, every statement must show how long it would take to pay off the outstanding balance if only the minimum payment were made.

    The right to receive accurate and timely statements and agreement changes

    Creditors must issue a statement at least 21 days before your payment is due. You also must receive advance notice for any changes to your credit card agreement (new interest rates, fees, etc.) no later than 45 days before the change goes into effect.

    If you feel there’s a billing error on your statement, you have the right to dispute the charge without being subjected to paying the fee or accrued interest during the investigation. Your dispute can be over the phone or online, but it’s best to get everything in writing so you can keep a copy for your records.

    The right to have limited liability for fraudulent charges

    If your credit card was used without your authorization, you have the right to reduce your payment obligation for those charges. If you end up reporting a lost or stolen card after fraudulent charges are made, you could be liable for up to $50 though many creditors offer $0 liability. Check your credit card agreement for details.

    The right to view and amend your credit report

    Credit card companies will report your activity, including balance carried, number of late payments, how long you’ve had the card, and the amount of credit you have to at least one of the three major reporting bureaus (TransUnion, Equifax, and Experian). You have the right to request one free credit report every year from these agencies without it being considered a “hard pull” on your report. Too many hard pulls will lower your overall score, so take advantage of your free report every year.

    In addition, many companies are now offering the ability to monitor your credit daily with “soft pulls.” These give an overall summary of your credit history and don’t affect your score.

    If you see an error on your credit report, you have the right to file a dispute with both the creditor and the reporting agency.

    What should you do if your rights have been violated?

    If you feel a creditor has violated your rights, you should file a complaint with the appropriate governing agency. Your first stop should be to the Consumer Financial Protection Bureau (CFPB), as they’re the enforcement agency responsible for credit card companies. If your complaint is against a bank, contact the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) if your bank is a credit union. Finally, look into if your state has any enforcement agencies specifically responsible for complaints against smaller regional banks.

    Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
    Previous ArticleWinning Instagram Strategies for Entrepreneurs
    Next Article How Much Does a Paternity Test Cost? Not as much as you think
    Sayan Dutta
    • Website
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • LinkedIn

    I am glad you came over here. So, you want to know a little bit about me. I am a passionate digital marketer, blogger, and engineer. I have knowledge & experience in search engine optimization, digital analytics, google algorithms, and many other things.

    Related Posts

    AI Stocks
    Business

    Top 10 AI Stocks To Invest In For 2023: A Comprehensive Guide To Artificial Intelligence Investing

    May 17, 2023
    Social Network For Your Business
    Article Contributions

    Choose The Right Social Network For Your Business

    May 7, 2023
    Why AMD Stock Crashed on Wednesday
    Business

    Understanding The Reasons Behind The Recent AMD Stock Crash

    May 5, 2023

    Table of Contents

    • The right to not be discriminated against
    • The right to receive full information disclosures
    • The right to receive accurate and timely statements and agreement changes
    • The right to have limited liability for fraudulent charges
    • The right to view and amend your credit report
    • What should you do if your rights have been violated?

    Top Posts

    Socialmediagirls: How To Join The Socialmediagirls Forum?

    May 30, 2023
    Farmgirllacy

    Farmgirllacy: Bio, Age, Career, Net Worth, and Fascinating Facts

    May 30, 2023
    Renee Winter

    Renee Winter: Bio, Career, Boyfriend, Jobs, Networth & Facts

    May 30, 2023
    Lasit

    Emerging Trends in Hardware Technology: A Comprehensive Insight

    May 30, 2023
    Popular in Social Media

    Socialmediagirls: How To Join The Socialmediagirls Forum?

    May 30, 2023
    Renee Winter

    Renee Winter: Bio, Career, Boyfriend, Jobs, Networth & Facts

    May 30, 2023
    facebook meta

    Facebook Slapped With $1.3B Fine And Given 5 Months To Halt EU-US Data Transfers

    May 22, 2023
    New in Health
    THC O and Heart Health

    THC O and Heart Health: What You Should Be Aware Of

    May 24, 2023
    Mod GRF

    Mod GRF And Ipamorelin Blend Health Related Stuides

    May 4, 2023
    Mold Allergies

    The Truth About Mold Allergies: What You Need to Know

    May 2, 2023

    google news

    google-play-badge

    Protected by Copyscape

    DMCA.com Protection Status

    Facebook Twitter Instagram Pinterest
    • Terms of Service
    • Privacy Policy
    • Contact Us
    • About
    • Sitemap
    • Write For Us
    • Submit Press Release
    Copyright © 2023 - Read Us 24x7

    Type above and press Enter to search. Press Esc to cancel.