cancel
Showing results for 
Search instead for 
Did you mean: 

Before you pick a new credit card, check to see if it has this fine print

Moderator

Before you pick a new credit card, check to see if it has this fine print

  • So-called mandatory arbitration clauses in card agreements require cardholders to settle disputes through arbitration rather than via court.
  • In a CreditCards.com review of 30 credit card issuers, only nine have arbitration clauses that cardholders cannot avoid.
  • Experts say you may want to look for a card that does not have an arbitration clause rather than one that offers a way to opt-out.

https://www.cnbc.com/2017/11/30/credit-card-terms-may-let-shoppers-avoid-mandatory-arbitration.html

Message 1 of 4
3 REPLIES 3
Frequent Contributor

Re: Before you pick a new credit card, check to see if it has this fine print

Interestingly enough I'm surprised to see USAA and US bank listed among those that do not allow arbitration. 

 

Well Fargo, Barklaycard and Credit One however are right where I expected them in this list. 

 

'Following the money' in terms of the October Senate vote might be an interesting looksee if one had the time and resources to go deeper.  

Message 2 of 4
Super Contributor

Re: Before you pick a new credit card, check to see if it has this fine print

I'm suprised thatr BofA wasn't a Yes.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 3 of 4
Contributor

Re: Before you pick a new credit card, check to see if it has this fine print

Thank you for the insight, I see why USAA do not budge

Gardening ‎10-13-2017

FICO 8[10-25-2017] EX: 706, EQ: 714, TU: 719
FICO 8[1-04-2018] EX: 714, EQ: 737, TU: 721
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.