Know Your Credit Card Rights

| Posted: 03-04-2008 | Comments: 0 | Views: 3 | Rating: (50)

(?)

As you apply for and are provided with credit, your signature on the credit documents functions as your agreement with the terms suggested by the issuing financial organization. Although you may think that the issuer has the right of voice in everything related to using the credit, it is not completely correct. Of course, you have particular rights, majority of which are guaranteed by the Fair Credit Billing Act. There is one significant thing you should do in order to be able to take advantage of these rights and that is making sure that you take all necessary steps in the order and time frame fixed.
The most important credit problem is billing disputes. These are disputes which happen when merchants demand money for objects not received or received defective. As the Fair Credit Billing Act states, you have a right to dispute in such cases following the procedure of two steps. Step One: within 60 days of the date you got the first notification of such item, you have to write to the issuer of your credit card, stating your name as it is on your cardholder account, account number, information on the problematic item and what you want to be done. Step Two: before sending the letter, make sure to put your signature on it and to make a copy to have it with you; send it with the type of mail that offers proof of delivery. Within 30 days the issuer will contact you and start investigating the matter. While the investigation is in process, you do not have to pay for that item. If the dispute is finished in your favor, you are free from any responsibilities connected with the item. If not, you will have to make the necessary payments according to cardholder agreement.
Unauthorized charges can be called another significant problem with credit cards. Nonetheless, your responsibility for verified unauthorized charges is restricted to $50 - not the whole sum. Unauthorized charges can rapidly reach the hundreds and even thousands of dollars, that’s why $50 is a comparatively minute price to pay if you happen to be a victim of identity theft.
Those who pay with credit cards are considered debtors. If you cannot pay off your credit debt, you are sure to be contacted by a debt collector. Formerly, debt collectors made use of various threatening and frightening methods to collect debt. Luckily, now the Fair Debt Collection Practices Act banned use of such tactics and defined when and in what way debt collectors may contact debtors. For instance, debt collectors have no right to say you will be arrested or your salary will be cut. However, you still have to repay your debt and the Act only guarantees you fair treatment.
For more complicated issues concerning your credit cards rights for example in cases of declaring bankruptcy or divorce, you need to consult a legal representative.

Rate this Article:

Current: 0 / 5 stars - 0 vote(s).

Article Tags: Loans, Student Loans, Loan, College, Education, Paper, University, Student, Grants, Scholarship, Essay, Grant, College Loan, Education Grants, Free Education, Grant For Education, Scholarship Grant, Scholarhip Program

Article Source: http://www.articlesbase.com/credit-articles/know-your-credit-card-rights-377214.html

Print article

Send to friend

Publish this Article

Author feedback

About the Author:

Despite the great experience of dissertation writing, editing and proofreading, Jeffrey Parker doesn’t stop searching for new methods and ways of improving the quality of Fashion essay and Narrative Personal Essay writing and introduces them succesfully.

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Add new Comment

Pros and Cons of Online and Traditional Education
By: Mihail | 13/02/2008 | Online Education
All the people are sure nowadays that the contribution into the education and earning of the university degree is the best investment into the future.

Tips Concerning the Distance Learning
By: Leon | 15/02/2008 | Online Education
Nowadays people are very interested in the obtaining of the higher education, as those people who have good educational background and university degree, have better career chances, more opportunities on the labor market and higher level of incomes.

Effective Ways to Save on Travel
By: Chris Valentino | 11/03/2008 | Education
This article tells about ways to save substantially on travel using the internet databases. It dwells on two main types of websites that offer discounts.

Meaning of the Credit Score
By: Adam Clark | 18/03/2008 | Education
This article tells about such phenomena in the sphere of borrowing products as credit score and its meaning.

Trade Lines Increase Credit Scores 200 Points in 15-30 Days
By: Danna Walker | 21/03/2008 | Education
This article tells what should we do to have a favorable credit score.

Eco – Friendly Fashion
By: Monica Hernandez | 27/03/2008 | Fashion
This article tells about new popular direction in the fashion industry - eco fashion, which protects the flora and fauna.

Must See of London
By: Abram Johnson | 07/04/2008 | Travel
This article tells about London’s sight of seeing, which attract the tourist from all over the world.

Bet You!
By: Patrick Keller | 02/06/2008 | Online Gambling
This article is about modern activity which is popular in many countries – betting. It tells about various peculiarities of the process of betting.

Got a Question? Ask.

Ask the community a question about this article:

Frequently Asked Questions

I have credit issues and I am going to be getting ...
By: whisperingseas | 22-07-2008
I have credit issues and I am going to be getting married next year . Will my credit hurt my future spouses great credit after we get married ?

Social security
By: Paul Pemberton | 22-07-2008
Is it true that LBJ President took the social security fund and deposited into the General fund. Is this the reason it is broke? Also how could he do this.

Is Homestead Mortgage Company a reputable ...
By: janet | 22-07-2008
Is Homestead Mortgage Company a reputable company?

Is Keiser accredited for healthcare programs
By: Judy | 22-07-2008
Is Keiser accredited for healthcare programs

Looking for the soils report/boring logs for The ...
By: Jeff Pease | 22-07-2008
looking for the soils report/boring logs for The Grossmont College Health Physical Sciences District

Q&A Powered by:

Latest Credit Articles

3 Prepaid Reloadable Mastercard Choices
By: Steven Walters | 25/07/2008
Here's three really good choices for reloadable debit cards.

Learn About Credit Card Debt Negotiation - Learn the Secrets
By: Bryan Burbank | 25/07/2008
When negotiating with the credit card companies about your debt it is always important to understand that you are the one in control and do not be intimidated by the credit card company. They like it when you make your minimum monthly payment and do not want you to stop that so they will be willing to negotiate your debt so to make it easier to make those payments.

Repairing Damaged Credit Scores: How to Raise Your Score 120 Points
By: Thomas Boston | 25/07/2008
Repairing a credit score can seem like a difficult and daunting task to undertake. This article helps separate the truth from the myths and help guide a consumer to repairing their credit score fast.

Are Banks Raising Credit Card Rates to Shore Up Their Finances?
By: Reno Charlton | 24/07/2008
Most people are well aware that the UK's banks area really suffering as a result of the global credit crunch, and many have had to try and find alternative ways to increase funding as a result of increased difficulties in getting money on the wholesale money markets. Some have suggested that one of the ways in which banks have done this is through increasing some fees and charges on credit cards.

The Better Your Credit Score, the Less Money You Pay in Interest
By: John Collins | 24/07/2008
Credit scores are reviewed for so many different purposes, in some instances without our knowledge, it is a good idea to review both the credit score and the credit history periodically.

Get Student Credit Cards for Extra College Expenses
By: Devora Witts | 23/07/2008
There have been lately offers for students that feature specially designed credit card packaged for college students. These credit cards offer a combination of financing, flexibility, security and control so student can feel comfortable about managing their finances and at the same time obtaining the benefits that credit cards provide.

100% Equity Financing for Home Improvements
By: Devora Witts | 23/07/2008
It is possible to obtain financing up to 100% of your property’s market value with your mortgage balance and a home equity loan for home improvements combined. With this money you can start that long postponed home improvement project and turn your home into your dreamed home within a short period of time.

Credit Repair: How to Handle a Collector
By: Jim Kemish | 23/07/2008
If you are contacted by a collector you should know your rights. A nationally recognized consumer advocate and credit repair expert offers some useful advice about dealing with collectors, and coming out ahead.

More from Jeffrey Parker

Footwear Beach Fashion
By: Jeffrey Parker | 03/04/2008 | Fashion
This article tells about style and trends in the beach fashion. Main attention is given to the footwear for beach.

Article Categories

Article Marketing

Article Notepad

Stop Duplicate Content

Term Papers

Need Help?

Sign up for our email newsletter

Receive updates, enter your email below

Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (0.22, 17)

Know Your Credit Card Rights

Article Comments

Related Articles

Got a Question? Ask.

Latest Credit Articles

More from Jeffrey Parker

Need Help?

Site Links

Webmasters

Business Info

Sign up for our email newsletter