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Fair Credit and Charge Card Disclosure ActThe Fair Credit and Charge Card Disclosure Act of 1988 requires that applications for credit cards that are sent through the mail, solicited by telephone, or made available to the public, for example, at counters in retail stores or through catalogs, contain information about key terms of the account, for example, the annual percentage rate (APR), the amount of any annual fee, and whether you have a grace period to pay your bill before a finance charge is added. Amended the Truth in Lending Act.
Also, the Truth in Lending Act prohibits the unsolicited issuance of credit cards and limits cardholder liability for unauthorized use.
For more information on federal credit regulations and consumer rights go to the Federal Trade Commission (FTC) website at www.ftc.gov or www.federalreserve.gov
Some state laws may provide you with additional rights. For information go to the website of the National Association of Attorneys General (NAAG) at www.naag.org.
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