How do I know if my credit card agreement contains an arbitration clause?

When you sign up for a credit card, you agree to a contract with the credit card company. This contract is called the credit card agreement. It outlines all of the terms and conditions of your credit card account, including any fees or rewards associated with the card. In your credit card agreement, you may find an arbitration clause. An arbitration clause is a clause that states that if you have a dispute with the credit card company, you have to go through arbitration instead of taking the case to court. To know if your credit card agreement contains an arbitration clause, you should carefully read through the contract. The clause will likely be found under the spot in the agreement about resolving disputes. It may say that if you have a dispute with the credit card company, you must pursue arbitration instead of taking the situation to court. You should also look for any language in your credit card agreement that makes mention of arbitration. For example, the contract may say that any disputes “shall be settled by binding arbitration.” If this language is present, it is likely that there is an arbitration clause in your credit card agreement. In Florida, the law states that an arbitration clause must be written clearly and should not be hidden in the agreement’s small print. Therefore, if you can’t find an arbitration clause in the agreement, it may mean that there isn’t one present. If you have any doubts, you may want to contact the credit card company to ask if the agreement contains an arbitration clause.

How do I know if my credit card agreement contains an arbitration clause?

Related FAQs

Related Blog Posts