What is the CARD Act?

Take Charge of your Debt with the Help of a Credit Card Attorney


If you find yourself in an overwhelming situation with credit card debt, it may be time to know more about what is the CARD act and consider a dependable credit card debt attorney to help you. At Scott Harris Law, PLLC, we are well-verse in the complex area of bankruptcy and debt resolution.


Our knowledgeable credit card debt attorney can also help you pinpoint any potential loopholes or issues in your contracts so that you can make informed decisions about how to move forward with your debt or what is the CARD act.  Don’t hesitate to schedule a consultation with us today!


Why Do I Need a Credit Card Debt Lawyer in Oklahoma?

Oklahoma City residents may feel overwhelmed by the complex laws and regulations pertaining to credit card debt. To ensure that their rights are fully protected, those dealing with exorbitant credit card fees or the prospect of filing for bankruptcy should consider engaging the services of a qualified credit card lawyer in Oklahoma.


Included in the benefits of getting an Oklahoma City, OK credit card lawyer are the following:

  • Legal experience
  • Debt relief options
  • Creditor harassment protection
  • Legal representation
  • Lower payments
  • Credit score protection


If you are having trouble handling your credit card issues, rest assured that Scott Harris Law, PLLC credit card debt lawyers are always willing to help. Simply contact us for free consultation!


What Is the CARD Act?


Do you ever find yourself wondering about the laws that govern and protect your credit, finances, and investments? If so, you might be wondering what is the CARD Act or Credit Card Accountability Responsibility and Disclosure Act.

It Seeks to Curtail Abusive Credit Card Providers


The CARD Act of 2009 was an important step toward protecting consumers from the many deceptive and abusive practices frequently employed by credit card issuers. Issuers often adopt tactics like raising consumers’ interest rates with limited or no warning, or suddenly changing terms in the terms and conditions. 


High late-payment fees when payments are even a few days out of date can hit people when they’re already struggling financially. The CARD Act helped to end these shenanigans, requiring clearer disclosures of the rates, fees, and payment due dates on cards. It improved consumer protection by allowing cardholders more time to pay their bills and setting maximum limits on late fees that can be charged. 


With the implementation of this legislation, consumers can have more confidence that they won’t be ensnared in costly traps crafted by companies looking to enhance their bottom lines at all costs.


If you think that your credit card provider is abusing their powers wherein they are charging you a lot, talk to our credit card attorneys today. We’re here to help you!


Designed to Deliver Consistent Information 


The CARD Act of 2009 has revolutionized the credit card industry. It has strived to ensure consumers receive clear and consistent information from credit card issuers. 


Now, no matter what type of credit card you use, you can be sure that the government will review terminology, costs, and other terms related to your card to ensure areas like hidden fees don’t exist. This new accountability has benefited millions of people who now better understand their financial obligations. 


With more clarity, responsible use of products is possible, which provides important economic stability for many individuals throughout the country.  Scott Harris Law, PLLC is here to help you understand credit card laws further.


Help Save Consumer’s Money


The CARD Act of 2009 was a huge step forward for consumers when it comes to financial protection. Before this legislation, credit card companies had free reign to conduct business. Thanks to the CARD Act, fees are more transparent, over-the-limit transactions have been abolished, and consumers can now have peace of mind knowing that due dates will not be changed without advance notice. 


Perhaps one of the most significant developments of the CARD Act is that it has saved consumers billions of dollars. Credit card companies now have limits on how much interest they can charge and cannot arbitrarily raise interest rates if customers fail to pay their balance on time.


It doesn’t just spur competition among banks to offer better deals with lower fees, but it has certainly saved people money by placing reasonable restrictions on lenders.


If you think that you can no longer handle your credit card problems, don’t fret, speak to our lawyer and learn how we can help you get back up! 

What Are the Provisions of the CARD Act of 2009?


The Credit Card Accountability, Responsibility, and Disclosure Act of 2009 has significantly improved consumers’ financial security. The act requires credit card companies to disclose terms and conditions clearly, prohibit them from raising rates on existing balances, and give cardholders the right to 45-day notice before any material changes in the interest rate or payment terms on their accounts can take effect. 


Additionally, it has implemented caps on late fees, and bans on charging interest for over-the-limit activity among minors. It prevents companies from granting credit cards without properly assessing whether customers are able to afford the additional debt. 


When taken together, these provisions ensure that credit card holders who follow the rules are protected from predatory practices by large financial institutions. 


With Scott Harris Law, PLLC, rest assured that you can get the most accurate information you need about the CARD Act of 2009.  Give us a call to know more!


What Are the Disadvantages of the Credit Card Act of 2009?


While some of those changes benefited those who actively used their credit card, others found themselves at a disadvantage as certain protections that had previously been in place were taken away. Beyond this, there are other downsides associated with the CARD act that few know about such as:


  • It doesn’t cover certain increases in interest rate
  • Deferred interest rate
  • Several benefits
  • Most credit card sublime fees


Call our Experienced Oklahoma City Credit Card Lawyers Now!


If you have found yourself facing a complicated legal situation involving credit cards, you may be wondering if you should call in a credit card lawyer. While each situation is different, it’s important to recognize that the help of a lawyer can make all the difference in the outcome and peace of mind that comes from being able to trust the legal process. 

Our credit card lawyers are well-equipped to navigate any decisions around debt consolidation and relief, helping you deal with complex cases beyond your experience.  Any difficult paperwork or unfamiliar contracts you receive will be expediently taken care of. 

Don’t hesitate to contact our credit card lawyer is an invaluable opportunity for full protection against debt-related harassment or possible bankruptcy or if you want to discuss more about what is the CARD act. We also offer other services from Bankruptcy (Chapter 7 & 13), foreclosure defense, and debt negotiation.  Schedule a free consultation now!

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