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Bad Credit Credit Cards – the Basics

Many merchants offer to send you money by phone, but you may be charged or prompted to either by your identity theft or identity theft detection provider. So, really, a good way to prove you are not a fraud suspect is to pay a 30 day debt settlement immediately after you were victimized (or provided to by a provider). The credit card companies work with those that have contacted us because we might be in need of a credit card, or a regular credit card because of medical emergencies or for temporary needs. These cards work better for you when you have a balance on your credit card.

However, there is one exception to the credit card fraud laws: they cannot contact you by phone. There are a few exceptions under federal law. The law is called the Business Secured Credit Cards Act. You must be granted special treatment if you are carrying your credit card with you when you travel. And most of these cards work just like any regular credit card, but under the terms of your contract with them. Here is how they work, in more perfect English:

You agree that upon your payment on a billing statement for any one-time transactions or whenever you incur a non-credit check, during your statement for a finance charge, or for any other non-payment on a purchase, the company, any creditor, or otherwise shall destroy or suspend or delete all supporting documents from your statement for a minimum of 100 days if any. If any supporting documents become unreadable due to normal use, the company, creditor, law enforcement agency, or the credit reporting company, in its sole discretion, may order additional documentation, as described below.

Under the Federal Trade Commission (FTC), a consumer may not be held personally responsible for a billing error, non-payment on a credit card, or non-payment on a finance charge, if the item on your statement was the product of the consumer’s own “knowingly, knowingly, or reckless” failure to pay.

Though this is more of the fine print involved, it was written into the law so that it could apply to “everybody who carries a credit card.” The exceptions, if any, that apply are in the fine print, and the legality and the consequences of the law. The bottom line is that the companies that write these fine print will not be held personally liable for non-payment from time to time. If they did so, with the exception of willful nonpayment on a finance charge, that would be a federal crime. And any consumer who found out about the non-payment on a billing statement for non-payment must contact that billing violation right away. If the credit company decided to take a chance and said no, chances are you would have thought the FTC would have gone to the extreme to sign off.

But look, these are all federal law, and state law is the law to the credit card laws as it is laid down by the federal law you read in the Federal Register (Mellon & Whitway, Inc. Web site http://www.llr.com/law) itself. State laws vary from state law to state law, but usually they are more like variant laws. And the FTC isn’t all that choosy about what state law YOU have, so we DO call them out on our mistakes.

So yeah, local law is generally better than federal law, which is pretty much what you have to deal with when they do talk about the card-watcher state law. But the FTC makes their money on our laws, and by our laws. So that should give you enough breathing room to decide which states give you what type of notice you get from the credit reporting company for a credit card.

And now, for the little secret law you don’t know about: you can do “credit monitoring” on your credit cards. And they are totally legal, since the FTC defines a credit report as a report from a credit bureau or a credit reporting agency that tracks changes in monthly accounts, or changes in credit card use. For a detailed explanation (pdf) of credit monitoring and how it is done, go to http://www.ftc.gov/mmwr/pubs/statements/CC0064.

Credit History

Did you know that you never pay your credit card bill? Did you know that your credit history will be forever changed? Did you, the ever paying your credit card bills, know that you will never be eligible to have your American Express AIR MILES credit card applied to your credit score in this time? Well now you, have an answer, with your American Express AIR MILES credit card. If you are not sure what your credit history looks like, this article will tell you.