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

When you sign up for a credit card, you enter into an agreement with the card issuer. This agreement outlines the terms of use for the credit card, including any fees or restrictions that you will have to abide by when using the card. Before signing the agreement, it is important to read through it to make sure that you understand all of the terms that you are agreeing to. One of the things that you will want to watch for is an arbitration clause. An arbitration clause is a provision that states that if you and the card issuer have a dispute over the agreement, you must settle it through arbitration rather than through the courts. If your credit card agreement contains an arbitration clause, it should be listed somewhere in the agreement. You may want to do a quick keyword search of the document to make sure that you don’t miss it. Of course, if you’re not sure what to look for, you should consider speaking to a lawyer or other legal professional who can help you understand the agreement better. In New Jersey, all credit card companies must follow the state’s Credit Card Dispute Resolution law. This law includes provisions about arbitration clauses and what must be included in them. Be sure to read the law to make sure that the agreement you’re signing is in compliance with the law.

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

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