What is a Cardholder Agreement?

15 Oct What is a Cardholder Agreement?

The Cardholder Agreement is the document that governs the relationship between the credit card issuer and the cardholder. The Agreement contains all the legal and factual terms and conditions by and through which a cardholder or authorized user charges his or her account, as well as the guidelines by which the credit card issuer makes the extension of credit to the consumer.

Consumers should read the Agreement even though it is cumbersome to do so. Consumers should also retain a copy of their Cardholder Agreements for future reference. In the event you have a question or dispute regarding the account, the Agreement will (usually) explain the procedure and remedy to resolve the problem.
Remember, credit card issuers are constantly changing the terms of their Cardholder Agreement(s). They are usually included with a statement.

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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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