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    ILO7 Extent of Liability of Ict Professional

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    Charlotte De Guzman Dolores
    This document outlines 6 rights that are guaranteed for every credit card holder: 1. Credit card issuers cannot discriminate against applicants based on attributes like gender, race, or marital status. They must consider public assistance as valid income. 2. Credit card holders have the right to accurate and timely billing statements sent at least 21 days before the due date. Statements must include all charges and payments as well as payment details. 3. Card holders are not liable for unauthorized charges if the card is reported lost or stolen in a timely manner. There is limited liability even if it is reported late. 4. Card holders can view their credit reports and dispute any inaccurate information reported by the credit card issuer.

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    © All Rights Reserved
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    ILO7 Extent of Liability of Ict Professional

    Uploaded by

    Charlotte De Guzman Dolores
    129 views7 pages
    This document outlines 6 rights that are guaranteed for every credit card holder: 1. Credit card issuers cannot discriminate against applicants based on attributes like gender, race, or marital status. They must consider public assistance as valid income. 2. Credit card holders have the right to accurate and timely billing statements sent at least 21 days before the due date. Statements must include all charges and payments as well as payment details. 3. Card holders are not liable for unauthorized charges if the card is reported lost or stolen in a timely manner. There is limited liability even if it is reported late. 4. Card holders can view their credit reports and dispute any inaccurate information reported by the credit card issuer.

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    This document outlines 6 rights that are guaranteed for every credit card holder: 1. Credit card issuers cannot discriminate against applicants based on attributes like gender, race, or marital status. They must consider public assistance as valid income. 2. Credit card holders have the right to accurate and timely billing statements sent at least 21 days before the due date. Statements must include all charges and payments as well as payment details. 3. Card holders are not liable for unauthorized charges if the card is reported lost or stolen in a timely manner. There is limited liability even if it is reported late. 4. Card holders can view their credit reports and dispute any inaccurate information reported by the credit card issuer.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    129 views7 pages

    ILO7 Extent of Liability of Ict Professional

    Uploaded by

    Charlotte De Guzman Dolores
    This document outlines 6 rights that are guaranteed for every credit card holder: 1. Credit card issuers cannot discriminate against applicants based on attributes like gender, race, or marital status. They must consider public assistance as valid income. 2. Credit card holders have the right to accurate and timely billing statements sent at least 21 days before the due date. Statements must include all charges and payments as well as payment details. 3. Card holders are not liable for unauthorized charges if the card is reported lost or stolen in a timely manner. There is limited liability even if it is reported late. 4. Card holders can view their credit reports and dispute any inaccurate information reported by the credit card issuer.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 7

    6 Rights that are

    Guaranteed for Every


    Credit Card Holder

    Prepared by: Maria Laureen B. Miranda, LPT


    1. Unbiased Decisions When Applying for New
    Credit
    When you apply for credit, credit card issuers
    can’t discriminate against you because of your
    gender, race, religion, nationality, age, marital
    status or whether you receive public assistance.

    The credit card issuer can deny your credit card


    application if you don’t meet the legal age for
    getting a credit card. Credit card issuers can’t
    deny your credit card application because you
    receive public assistance and they have to let
    you include public assistance in your income.
    2. Accurate and Timely Credit Card Billing
    Statements
    Credit cards have to mail you a billing
    statement at least 21 days before your payment
    due date, enough time to make your payment
    on time and take advantage of the grace
    period if you have one. Your billing statement
    will include credits and charges to your account
    since the last billing statement. It will also
    include your minimum payment, the due date,
    and some information about late payment
    penalties, and the impact of making the
    minimum payment.
    3. No liability for unauthorized credit card
    charges
    If your credit card is used without your consent,
    you can reduce your liability for the charges by
    taking certain actions. First, you should report
    your credit card missing as soon as possible.
    You won’t be responsible for any of the
    unauthorized charges if you report your stolen
    credit card before the thief gets a chance to use
    it, but you could be liable for up to $50 if you’re
    late reporting the loss. You’re not liable at all for
    charges made using just your credit card
    number when you still have the credit card in
    your possession.
    4. Ability to view and correct your credit card
    report
    Your credit card issuer may report details about
    your credit card and your payment history to a
    credit bureau, also called a credit reporting
    agency or credit bureau. You have the right to
    view your credit card and make sure the
    information reported about your credit card is
    accurate. You can dispute any inaccurate
    information with the credit bureau or with the
    credit card issuer.
    5. Advance notice for any changes to your
    credit card agreement
    Credit card issuers sometimes make major
    changes to your credit card agreement, like
    increasing your interest rate or introducing a
    new annual fee. You have the right to reject
    these changes and pay off your credit card
    under your current terms. The credit card issuer
    has to send you a 45-day advance notice
    before a significant change takes effect. They
    must also give you instructions on how to opt-
    out of these changes.
    6. How to deal with a violation of your credit
    card holder rights
    You can file a complaint against a credit card
    issuer who violates your rights with the
    appropriate regulating agency. The Consumer
    Financial Protection Bureau is responsible for
    enforcing laws for credit card companies. For
    now, continue to send complaints about debt
    collectors and credit bureaus to the Federal
    Trade Commission. Several different agencies
    regulate credit card companies, like the
    National Credit Union Administration. You can
    file a complaint with these agencies also.

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