Credit Card Laws

In hopes of educating the public about how exactly credit and credit cards work, the Consumer Credit Protection Act (CCPA) was passed in 1968. It states plainly to the consumer what their rights are as a credit card holder, as well as what they will be held responsible for. The CCPA was also created to prevent credit discrimination based on age, sex or income. People over the age of 62, or single women could no longer be denied credit, as well as the owner of a stolen credit card would not immediately be held liable for purchases made with the card. These new laws helped make credit cards safer and more secure, but unfortunately, it still seems that many people are not sure how they are used and how to do so responsibly. With credit card debts steadily increasing, the field of debt management has become a productive one.

Credit cards make our lives easier in many ways. If not used correctly and responsibly, however, they can lead to serious problems. These problems can lead ultimately to the issue of debt management and debt management loans.

It is important that each credit card user be aware of what their card requires of them as well as know what their rights are as a credit card holder.

The Federal Trade Commission (FTC) is the nation’s consumer protection champion. The FTC works for the consumer to prevent fraud, deception and unfair business practices in the marketplace. The FTC provides the information consumers need to spot and avoid fraud and deception. Consumers can contact the FTC for free information on a wide range of issues, including credit.