Skip to main content
NY.gov Portal State Agency Listing

New York Vista
Business
Education
Family
Health
Law and Order
Consumer Info
Environment
Government
Housing
Transportation
Career / Employment
Licenses & Credentials
Recreation / Tourism
Tax Information
How Do I?
Open Meeting Webcasts
  Consumer Information > Consumer Services
  Related Links   

 

Question Are credit card solicitations received in the mail legitimate?

Answer It is not unlawful for a bank or credit card company to solicit you to apply for a credit card through the mail. If you are being asked to pay an upfront fee for the privilege of receiving a credit card or you are not familiar with the reputation of the company soliciting your business, you should call the state bank regulator of the entity's headquarters state (if it is a state-chartered bank) or the Office of the Comptroller of the Currency (in the case of all national banks) to determine the legitimacy of the entity. Your local Better Business Bureau may also be helpful. Additionally, Section 520 of the New York General Business Law requires that all application forms or pre-approved written solicitations to enter into a credit card agreement for personal, household or family purposes must contain certain disclosures (e.g. APR., annual fee, grace period for purchases) in a box form. A similar requirement is found in Regulation Z of the Federal Reserve System.

Back More Info 
New York State Consolidated Laws

New York General Business Law, Article 29-A, Section 520
URL: http://assembly.state.ny.us/cgi-bin/claws?law=44&art=65
Contact: Consumer Representative
Phone: 18005223330 or Fax: 2126186440

NYS Home Page | Accessibility | Contact Us | Privacy Policy | Disclaimer

cpv