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authorization, you can be held liable for up to $50 per 
card. If you report the loss before the card is used, 
federal law says the card issuer cannot hold you responsible 
for any unauthorized charges. If a thief uses your card 
before you report it missing, the most you will owe for 
unauthorized charges is $50. This is true even if a thief is 
able to use your credit card at an automated teller machine 
(ATM) to access your credit card account. To minimize your 
liability, report the loss of your card as soon as possible. 
Some companies have toll-free numbers printed on their 
statements and 24-hour service to accept such emergency 
information. For your own protection, you should follow up 
your phone call with a letter to the card issuer. The letter 
should give your card number, say when your card was 
missing, and mention the date you called in the loss. 
Disputes about Merchandise or Services
If you have a problem with merchandise or services that you 
charged to a credit card, and you have made a good faith 
effort to work out the problem with the seller, you have the 
right to withhold from the card issuer payment for the 
merchandise or services. You can withhold payment up to the 
amount of credit outstanding for the purchase, plus any 
finance or related charges. If the card you used is a bank 
card, a travel and entertainment card, or another card not 
issued by the seller of the defective merchandise, you can 
withhold payment only if the purchase exceeded $50 and 
occurred in your home state or within 100 miles of your 
billing address. If these conditions do not apply to you, 
you may want to consider filing an action in small claims 
court -- an informal legal proceeding that can be used to 
settle disputes. While the maximum amounts that can be 
claimed or awarded differ from state to state, most small 
claims courts hear cases involving amounts ranging from $25 
to $2,000. Some states have recently raised their limits to 
$5,000. Check your local telephone book under your 
municipal, county, or state government headings for small 
claims court listings. 
Some Suggestions
* Shop around for credit card terms that are best for you.
* Make sure you understand the terms of a credit card plan 
before you   accept the card. Review the disclosures of 
terms and fees that must   appear on credit-card offers you 
receive in the mail. 
* Pay bills promptly to keep finance charges as low as 
possible. 
* Keep copies of sales slips and promptly compare charges 
when your   bills arrive. 
* Protect your credit cards and account numbers to prevent 
unauthorized   use. Draw a line through blank spaces above 
the total when you sign   receipts. Rip up or retain 
carbons. 
* Keep a list of your credit card numbers and the telephone 
numbers of   each card issuer in a safe place in case your 
cards are lost or   stolen. 
Where To Go For Help
The following federal agencies are responsible for enforcing 
federal laws that govern credit card transactions. Questions 
concerning a particular card issuer should be directed to 
the enforcement agency responsible for that issuer. 

State Member Banks of the Reserve System
Consumer and Community Affairs
Board of Governors of the Federal Reserve System
20th & C Sts., N.W.
Washington, D.C. 20551

National Banks
Comptroller of the Currency
Compliance Management
Mail Stop 7-5
Washington, D.C. 20219

Federal Credit Unions
National Credit Union Administration
1776 G St., N.W.
Washington, D.C. 20456

Non-Member Federally Insured Banks
Office of Consumer Programs
Federal Deposit Insurance Corporation
550 Seventeenth St., N.W.
Washington, D.C. 20429

Federally Insured Savings and Loans, and Federally
Chartered State Banks
Consumer Affairs Program
Office of Thrift Supervision
1700 G St., N.W.
Washington, D.C. 20552

Other Credit Card Issuers
(includes retail/gasoline companies)
Division of Credit Practices
Bureau of Consumer Protection
Federal Trade Commission
Washington, D.C. 20580


Consumer Handbook to Credit Protection Laws
Board of Governors of the Federal Reserve System
Introduction
The Consumer Credit Protection Act of 1968--which launched 
Truth in Lending--was a landmark piece of legislation. For 
the first time, creditors had to state the cost of borrowing 
in a common language so that you--the customer--could figure 
out exactly what the charges would be, compare costs, and 
shop around for the credit deal best for you.  
Since 1968, credit protections have multiplied rapidly. The 
concepts of "fair" and "equal" credit have been written into 
laws that outlaw unfair discrimination in credit 
transactions; require that consumers be told the reason when 
credit is denied; let borrowers find out about their credit 
records; and set up a way to settle billing disputes. 
Each law was meant to reduce the problems and confusion 
surrounding consumer credit which, as it became more widely 
used in our economy, also grew more complex. Together, these 
laws set a standard for how individuals are to be treated in 
their financial dealings. 
The laws say, for instance:
-- that you cannot be turned down for a credit card just 
because you're a single woman; 
-- that you can limit your risk if a credit card is lost or 
stolen;  
-- that you can straighten out errors in your monthly bill 
without damage to your credit rating; and 
-- that you won't find credit shut off just because you've 
reached the age of 65. 
But, let the buyer be aware! It is important to know your 
fights and how to use them. This handbook explains how the 
consumer credit laws can help you shop for credit, apply for 
it, keep up your credit standing, and--if need be--complain 
about an unfair deal. It explains what you should look for 
when using credit and what creditors look for before 
extending it. It also points out the laws' solutions to 
discriminatory practices that have made it difficult for 
women and minorities to get credit in the past. 
The Cost Of Credit
Shopping is the First Step
You get credit by promising to pay in the future for 
something you receive in the present. 
Credit is a convenience. It lets you charge a meal on your 
credit card, pay for an appliance on the installment plan, 
take out a loan to buy a house, or pay for schooling or 
vacations. With credit, you can enjoy your purchase while