Smith & Gromann, P.A./CreditLawGroup is a national law firm concentrating on providing representation to consumers, including those affected by the current mortgage and debt crisis. We provide cost-effective and accountable representation on the matters of: Foreclosure Postponement, Loan Modification, Mortgage Document Audits, Refinance and Transaction Services, Shortsale/Payoffs, IRS Debt Negotiation, Real Estate Tax Appeals, Credit Repair, & Debt Settlement. We are a real law firm representing clients under federal and state law. Don't trust your future to unlicensed "consultants" and generic companies. With a law firm you can assure that your interests are properly represented on what are critical legal matters. The hiring of a lawyer is an important decision that should not be based solely on advertisements, Before you decide, ask us to send you free written information about our qualifications and experience. This blog subject to the terms and disclosures set forth at www.creditlawgroup.com
- Unsigned cards are not valid and merchants can and will refuse them
As soon as your card comes in the mail, you should sign the back with your name. Writing "See I.D." will not suffice. Merchants reserve the right to refuse your card if your signature is not present.
- The maximum liability for unauthorized use of a credit card is $50 according to Federal Law
- Merchants cannot require you to present ID, unless your card is unsigned
By contract, merchants cannot ask you for ID and you don’t have to present it to them.
- Merchants cannot require a minimum transaction amount
Those signs consumers are seeing more and more often setting a minimum purchase for credit cards is not allowed by the credit card issuer. Any business that does this can be reported to the credit card companies. Although it is not illegal by law, it breaches the credit card contract between the merchant and the credit card company
- Merchants cannot charge a surcharge for using a credit card; however, they can offer a "cash discount"
Merchants are not permittedto charge you a higher price if you pay with a credit card. One way in which they sidestep this is by giving “discounts” to customers who pay in cash.
- Merchants are not allowed to make you give up your right to a chargeback
- Merchants are not allowed to place a hold for the estimated tip of bill.
- If merchants suspect you of fraud, they are supposed to call with a "code 10"
If a merchant suspects that a consumer is using someone else’s credit card, they are supposed to delay the transaction and call the credit company with a code 10 to verify if the credit card is stolen, as well as other information.
- If merchants break these rules, you can report them to the credit card company
When merchants break rules according to their contracts, consumers have the right to report them. This is why it is important to get familiar with the different rules so a merchant does not take advantage of you.
- 71% of young adults do not pay off the full balance every month¹.
- Low & middle income families have an average of $8,650 in credit card debt².
¹Consumers Union
²“The plastic safety net: The reality behind debt in America.”
- Related Videos
- Related Articles
- Ask / Related Q&A
- Bad Credit Credit Cards are not Bad at All
- "Bad Credit" Credit Cards: How You Can Avoid High Fees
- Frequently Asked Questions About Bad Credit Credit Cards
- Knowing When to Apply for a Bad Credit Credit Card
- Does a Bad Credit Credit Card Really Exist?
- Bad Credit Credit Cards: Help for Those With Credit Issues
- Bad Credit Credit Cards: How to Use Them
- Is There Such a Thing as a Bad Credit Gas Card?
Factors That Impact Your Credit Score
By: Tim Wolfe | 08/12/2009There are five factors that impact consumer credit scores. They are listed here in order of importance: Payment History has a 35% impact. Paying debt on time and in full has a positive impact. Late payments, judgments, liens, collections, profit & loss, bankruptcies, foreclosures, notice of default, charge-offs, etc. have a negative impact and are included in Payment History. Outstanding Credit Balances have a 30% impact. Debt ratio of outs...
Secrets Of Credit Reporting Agencies They Do Not Want You To Have.......
By: Jim Atman | 08/12/2009There are three main reporting agencies in the USA. Which Company Should You Request? You should request a copy of your credit report from ALL THREE COMPANIES.
Consumer Credit Falls, Many People Still in Debt However There Are Solutions
By: John Paul Jones | 07/12/2009The last few months have been unique for consumer credit, many people have been trying to save money, and many peoples outstanding consumer credit debt balances went down.
The Top 3 Merchant Services Providers
By: Paul Guenther | 07/12/2009When it comes to merchant accounts and credit card processing, there are more choices than ever. Accepting credit cards online has never been so easy - with lots of merchant service providers ready to accept your application. But what companies are the best?
How Much Does A Late Payment Affect Me?
By: Mel Jensen | 07/12/2009This article talks about how a late payment can affect your credit score. Why you should always make your payment on time no matter what.
Credit History Check. Get it for free!
By: Jeff D | 07/12/2009It is very important to maintain a good credit score these days. The report issued by the reporting agencies helps the lenders in knowing your financial standing. Technically, you can save a lot of money if you have a good credit score. Credit score ranges from 300 to 850, where 300 is the lowest and 850 is the highest.
Average Us Credit Score. What Is It?
By: Jeff D | 07/12/2009The credit score, also known as the FICO score is the numerical analysis of the financial history and your ability to pay back loan. A higher score establishes a greater degree of trust between you and your banker.
Information about Credit Cards
By: junior will | 07/12/2009Useful information on Credit Cards
Choosing the Right Reloadable Credit Card
By: The CreditLawGroup | 01/05/2009 | CreditFor those of us in today’s society who are unable to get a valid bank account or credit card, for whatever reason it may be, do I have the solution for you. The answer to your credit problems, well, at least the beginning answer, is a reloadable credit card.
Ways To Save Money In An Expensive Country
By: The CreditLawGroup | 01/05/2009 | Personal FinanceSave money so that you can do more things that you enjoy. Read this blog for tips to find out how!
How Your Spouses Credit Score Can Affect You
By: The CreditLawGroup | 01/05/2009 | CreditAlthough bad credit isn’t contagious married couples will sooner or later feel the affects of a spouses less then perfect credit score
Navigating A Short Sale
By: The CreditLawGroup | 01/05/2009 | Real EstateA brief rundown on how to do a short sale. As home values continue to decline, short sales have become one of the most viable solutions for millions of underwater homeowners who are facing foreclosure. Unfortunately, it is very difficult to successfully negotiate a short sale with most lenders today. Find out how to speed up your short sale by avoiding some of these obstacles...
What is a Short Sale? Whom Should I Hire To Negotiate a Short Sale With My Lender?
By: The CreditLawGroup | 21/04/2009 | Real EstateNegotiating a successful short sale is no easy task. It will require countless hours of phone time and inevitable frustration.A short sale describes the process of negotiating with your lender to get them to accept less than they are owed for your property. A short sale is an ideal alternative to foreclosure if you owe much more your home is worth and you no longer want to own your property.
What Is A Charge Off?
By: The CreditLawGroup | 13/04/2009 | CreditA charge off is when a consumer is very late on a payment (usually 120 days or more) that the credit company claims the debt as a loss.
Liens and your Credit Score
By: The CreditLawGroup | 13/04/2009 | CreditImportant information about all the different types of liens that every consumer should know!