Chapter 97A Debt Evidenced by Credit Card

Definitions.

“Authorized user” defined.

“Beneficial use” defined.

“Cardholder” defined.

“Credit card” defined.

“Credit card account” defined.

“False or fraudulent application” defined.

“Financial institution” defined.

“Interest” defined.

“Issuer” defined.

“Joint account” defined.

“Secondary cardholder” defined.

“Service provider” defined.

Requirements for issuance of credit card; provision and change of terms and conditions for use of credit card; applicable state law.

Verification of identity of person accepting firm offer of credit: When required; actions deemed to be verification of identity.

Issuer to provide cardholder with written notice concerning unlawful use of personal identifying information and credit information of cardholder; compliance with federal law deemed compliance with section.

Liability for charges incurred on credit card account.

Records required in action to collect debt: Establishment of liability and amount; authentication; retention.

Contents of complaint; limitations.

Rights of issuer or service provider; action to determine liability for unauthorized negotiable instrument used to make payment.

Transfer of information if issuer is subsidiary.

Prohibited acts by issuer: Increase of interest rate based upon late payment to another creditor; universal default clauses; exception.

Prohibited acts by issuer: Prohibiting merchant from offering certain discounts.