Understanding your credit card terms and conditions (T&C)

Normally, the credit card issuer will provide you with a document on the T&C of the credit card together with the card.

You may be considered to have accepted the T&C specified in the document once you start using the credit card or upon signing the acknowledgement of receipt for the credit card.

Therefore, you should read and understand the T&C before signing the agreement and using your credit card as it is a binding document between you and the credit card issuer.

Generally, the T&C covers the following:
  • The types of charges imposed

  • Rights and responsibilities of the

  • cardholder and the credit card issuer

  • Usage of the credit card

  • Terms of repayment and liability for unauthorised transactions

  • Lodgement procedures for complaints, investigation and resolution

  • Secrecy of information

  • Others

Consult your credit card issuer promptly if you need further clarification on the T&C. If you do not agree with the given T&C, you may consider cancelling the credit card by informing the credit card issuer and returning the credit card to the credit card issuer immediately.

Read and understand

the terms and conditions for the use of the credit card

Back to Contents of Credit Card Transactions & You

Reprinted with permission from BankingInfo (A Consumer Education Programme)

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Knowledge Base ID :   1222
Last Reviewed :   May 22, 2014
Source :   BankingInfo
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