When is a credit card issuer required to disclose the terms and conditions of a credit card?

In Indiana, a credit card issuer is required to disclose the terms and conditions of a credit card prior to an individual obtaining the card. This means that the issuer must disclose any fees, interest rates, and other terms associated with the credit card before the individual takes out the card. Additionally, the issuer must clearly state how the individual can access the terms of the card in the future, even after the card has been issued. In order to protect consumers, Indiana Law requires that the card issuer also include certain information in the disclosure document. This includes the annual percentage rate (APR) and the annual fee for the card. Additionally, the issuer must also disclose any special offer details, such as a 0% APR introductory rate, and any late payment or over-the-limit fees. Finally, the credit card issuer must also explain the legal rights and obligations that come with the card. This includes the obligations to pay the balance in full each month, the provisions for grace periods, and the type of consumer protection available to the cardholder. By law, the issuer must provide this information prior to the card being issued. This helps protect consumers by ensuring that they are aware of the terms of the card before they enter into the agreement.

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When is a credit card issuer required to disclose the terms and conditions of a credit card?

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