Card Member Agreement

The terms and conditions for a credit card are known as the card member agreement. This is required by federal law and it represents a binding contract between the card issuer and the card member. The card member agreement will include the following information: annual percentage rate (APR), the formula for calculating the minimum payments per month, any annual fees, and the dispute resolution processes. The card member agreement can be changed at any time by the card issuer and the consumer must be informed in advance with a written notice.

Click for the full glossary of credit card terms.

Similar Articles:

Credit Cards

Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!