Consumer protections for credit card holders ensure fairness and transparency. Here's a summary:
Truth in Lending Act (TILA): Requires clear disclosure of credit terms and costs.
Fair Credit Billing Act (FCBA): Allows disputing billing errors or unauthorized charges.
Fair Credit Reporting Act (FCRA): Governs credit reporting agency practices.
Credit Card Accountability Responsibility and Disclosure (CARD) Act: Sets limits on fees, regulates interest rate changes, and mandates clearer terms and protections for young consumers.
Zero Liability Protection: Most issuers protect cardholders from unauthorized transactions.
Dispute Resolution Process: Ensures a formal process for resolving consumer complaints.
Data Security and Privacy: Mandates security measures to safeguard cardholder data.