CFPB Credit Card Agreements
Credit card agreements include important information about prices, risks, and terms. But they are often long and complicated, written in legalese, and can be difficult to understand.
The CFPB collects credit card agreements from hundreds of issuers and provides them to the public. These agreements include general terms and conditions, pricing, and fee information. We do not provide specific account information or make any representations about a consumer’s actual agreement. The agreements displayed in this database reflect the version of the agreement that the issuer offered to the public at the time the CFPB collected the data.
Certain credit card issuers must submit credit card agreements and other data to the Bureau quarterly as part of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act). These submissions are made through the Bureau’s “Collect” website. Under CARD Act requirements, card issuers must also promptly provide a copy of an agreement to any cardholder upon request.
In addition, if a card issuer withdraws an agreement that it previously submitted to the Bureau, it must notify the Bureau of such withdrawal by the first quarterly submission deadline following the date as of which it no longer offers that particular agreement to the public.
The CFPB collects and makes available credit card agreements for consumers to review. Its search tool allows consumers to access the most recent quarterly submissions of credit card agreements and other data that are required by TILA and the CARD Act. This includes college credit card marketing agreements and data.
To meet these requirements, credit card issuers must post their credit card agreements on their websites, where they can be easily found. Using this search tool, it’s also a good idea for consumers to compare the terms of different cards from various issuers. It may help consumers decide what kind of card is best for them.
CARD Act
Under the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act), the CFPB must publish an annual report that lists information about college credit card agreements between issuers and institutions of higher education or affiliated organizations, such as alumni associations. This year’s report covers 1,044 agreements that were in effect at some point in the previous calendar year.
To comply with CARD Act requirements, issuers use the CFPB’s Collect website to submit college credit card agreements and survey data and make the agreements and data publicly available. Using the website makes it easier for both the Bureau and schools to track and process submissions and verify the accuracy of submitted information.
