Editorial Disclaimer: Editorial content is not provided or commissioned by financial institutions.Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are Wallet Hub advertising partners.I applied for a blue cash american express card and was approved for ,000. If I activated I have ,000 If I reapply I may be denied. I was harassed with a phone call from PNC bank about my visa credit card.The man on the phone said he was trying to collect a debt, because I missed my last payment.
I told him I didn't understand what he was saying because I always pay off my bill every month.
He said it was the law in North Carolina to call a customer whenever they miss a payment and ask for payment now.
Many rules and regulations affect what credit card companies can and cannot do.
These governing principles have changed often throughout the years, with a significant amount of the regulatory adjustments being brought about by legal decree.
In fact, the new credit card law (CARD Act) which went into full effect in August 2010 represents one of the most sweeping pieces of credit card legislation instituted in years.Therefore, to keep you apprised of all the changes, we have compiled what amounts to a credit card user’s bill of rights that clearly establishes consumer privileges as well as credit card company requirements and limitations in terms of various credit card features.