How to Find Out If Your Credit Card Agreement is Not Valid?

Credit cards have become the most popular form of payment. Cash payment is now considered an unfashionable thing, even in small town retail stores. As credit cards have become an integral part of our lives, the instances of credit card frauds are also increasing. People have to be cautious of any fraudulent activities and stealing of credit cards. In fact, credit card scam business has become a multi-billion dollar industry and investigation agencies are facing tough times to curb these trends.
Despite all these unfair practices, credit cars remain a very popular option. People have to enter into credit card agreements with banks to get these cards. However, these agreements are the real bone of content between the customers and the banks. If you are entering into a credit card agreement then make sure that it is valid and endorsed by the bank.
Unfortunately, most credit agreements are not valid when a customer signs up with a bank. The more disturbing is the fact that customers are generally not aware of this glitch. They think that their credit cards are valid for any purchase and head to retail stores to use them.
The actual shock comes when they are told that they cannot make a payment out of their cards. Some face quite embarrassing situations if they have no other option of payment. Just think about eating in a posh restaurant and then your credit card is rejected. It would be a really shameful situation.
Some ways are there by which you can find out about the validity of your credit card agreement. The first thing to look for is the authentication stamp by the bank. If that is not the case, immediately call your bank agent. There are certain clauses and terms in the credit agreement that gives you a real view of the situation. The most important one is the prescribed items list in the agreement. If the agreement is void on these terms or if they are not written clearly, this means that the agreement is actually flawed and unenforceable.
Consumer credit rights are protected under the 1974 Consumers Credit Act that also saw some amendment in 2007. However, the amendments have complicated the procedure and a customer has to present documentary proofs that the creditors have misled him or her. Payment Protection Insurance or PPI is levied on these credit card agreements and it also poses many problems. You can check the terms and regulations of PPI on your agreement. If you find any discrepancies, it means that your agreement is not valid.
The legal battle over invalid credit agreements is long and difficult. There are so many ambiguities in the law and practices that it is a no win situation for both parties unless your case is very strong. Whatsoever maybe the reason of an invalid credit card agreement, a customer has to suffer in the end. Getting a legal cover is always a recommendable option as it can protect your finances in the long run.
Simon P Jennings is a financial consultant. You may contact him to take his opinion for Unenforceable Credit Agreement and get professional advice at http://www.claimsadvicecentre.com
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