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BT1 · 08:31 PM

Credit cards are governed by the contract that you signed when you applied for the account. The contract lays out in detail all the fees and the interest rate that will be charged with respect to the account. It has been my experience that most banks violate the terms of the contract by:

1. Not complying with the Federal Truth in Lending Act and Regulation Z 226 et seq.

2. Charging a "fee" that is not allowed under the express terms of the contract.

#2 creates several problems for the credit card company. The first problem is that by charging a fee not provided for the in terms of the contract the fee will most likely cause the true APR to be higher than the APR stated in the contract. In my state (Georgia) the contract becomes void and the creditor losses the right to any interest on the balance under the state usary law.

And then we have a breach of contract claim. Charging fees against the terms of the written contract gives rise to damages.

Good luck...

08:31 PM	#10
BT1 Green Member Join Date: Jul 2009 Location: Atlanta Posts: 1	this may help... Credit cards are governed by the contract that you signed when you applied for the account. The contract lays out in detail all the fees and the interest rate that will be charged with respect to the account. It has been my experience that most banks violate the terms of the contract by: 1. Not complying with the Federal Truth in Lending Act and Regulation Z 226 et seq. 2. Charging a "fee" that is not allowed under the express terms of the contract. #2 creates several problems for the credit card company. The first problem is that by charging a fee not provided for the in terms of the contract the fee will most likely cause the true APR to be higher than the APR stated in the contract. In my state (Georgia) the contract becomes void and the creditor losses the right to any interest on the balance under the state usary law. And then we have a breach of contract claim. Charging fees against the terms of the written contract gives rise to damages. Good luck...