Even though credit card agreements can be long and complex, you need to know what you are accepting when using your credit card. Finally, it is a legally binding agreement. „I don`t see a loophole for any cardholder in this most explicit language of the agreement, even if the spending was set up by fraudulent activities or the scheme of one of the cardholders. While (the father) insisted that the credit limit for the card should be an external limit to (the father`s) liability as the primary cardholder, the language of the agreement as a whole states that all cardholders must be jointly and severally liable for all expenses and not just those that fall under the credit limit. „The length of sentences, both for standard agreements and for pre-application information, was greater than the recommended word count. For several years, Mia has been diligently paying her credit card bill every month and has therefore developed a very high credit rating. One day, she receives a notification in the mail that her credit card company has approved her in advance for a new credit card with a much higher credit score. In addition, the new card offers several other incentives, including a generous rewards program. We waive your credit card agreement if we sell or disclose to third parties some or all of our rights or obligations under the contract, including the amount you owe from the contract.
Subject to the scope of the assignment, any party to whom we assign your contract has all of our contract rights, including contractual rights to recover sums owed by you to the account. Your creditworthiness or credit information describes your financial history.