When can a card issuer look at my credit report?
A card issuer can look at your full credit report when you apply for a credit card. If you are a customer of the card issuer, it can look at your credit report at any time.
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Credit Cards
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I am tired of receiving credit card mailings. What can I do?
You can opt out of receiving certain mailings for five years by calling 1-888-567-8688 or visiting www.optoutprescreen.com. You can also opt out permanently by following the instructions online at www.optoutprescreen.com. To complete your request, you must return the signed Permanent Opt-Out ...
Can a card issuer consider my sex or marital status when deciding whether to issue a credit card to me?
Card issuers cannot deny credit or offer less favorable terms on the basis of sex or marital status. Typically, card issuers may not even ask your sex on an application form, and the form has to disclose that you do ...
I went over my credit limit and I was charged an overlimit fee. What can I do?
A card issuer cannot charge an overlimit fee unless you have opted in to permit the card issuer to allow charges that put you over your credit limit. Before you opt in, the issuer must give you certain disclosures, including ...
I received an offer for a credit card and it said that I was “prescreened.” What does this mean? Am I guaranteed to be approved if I apply?
Card issuers may use a credit reporting agency to make firm offers of credit to consumers whose credit histories meet the criteria asked for by the card issuer (for example, a minimum credit score). This does not mean the credit ...
I am a stay-at-home parent and was turned down for a credit card based on my income even though my spouse and I share our income and expenses. How can this be?
If you apply for a credit card as an individual, the card issuer must consider your individual ability to meet your payment obligations if you use the card. Unless your state’s law gives you an ownership interest in your spouse’s ...
What do I do if I think I have been a victim of identity theft?
If you believe you are a victim of identity theft, you should contact one of the consumer reporting agencies listed below to place a fraud alert on your credit report. You only need to contact one of the three credit ...
A box on my credit card bill says that I will pay off the balance in three years if I pay a certain amount. What does that mean? Do I have to pay that much? If I pay that much and make new purchases will I still owe nothing after three years?
Card issuers are required to let you know how long it will take you to pay off your current balance if you make no further charges and pay only the minimum amount due each month. They are also required to ...
What is a “daily periodic rate?”
A daily periodic interest rate is calculated by dividing the annual percentage rate (APR) by either 360 or 365, depending on the card issuer. The resulting daily periodic interest rate is then used to calculate interest by multiplying the rate ...
My card issuer offered me the opportunity to transfer a balance at a zero percent interest rate for 12 months. I did a balance transfer and they charged me a 5 percent fee. Can they do that?
Yes, so long as the card issuer told you the fee they charge for making a balance transfer before the transfer. Card issuers are allowed to charge a fee on balance transfers, even if the balance transfer itself has a ...
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