Definitions for "Card Holder Agreement"
The terms and conditions that a card holder signs and agrees to on being accepted for a credit card.
The card holder agreement is the written statement that displays the terms and conditions of the credit card account. This agreement is required by the Federal Reserve regulations. By law, the card holder agreement must include the Annual Percentage Rate (APR), annual fee if applicable, the monthly minimum payment formula, and the customers rights when disputing billing matters. Changes to the card holder agreement can be made at anytime by the issuer with a written advance notice. The rules for making changes to the card holder agreement vary from state to state. The rules that apply are the rules in the home state of the issuer, not those of the card holder.
A written agreement or contract between a credit card holder and the credit issuer that details the terms and conditions of a credit card account. This agreement must include the Annual Percentage Rate, the monthly minimum payment formula, the annual fee if applicable, and the cardholder's rights in billing disputes. Changes to the agreement can be made at any time by the issuer with prior written notice.