Be careful of offers for a new credit card!

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Banks are sending offers for "professional" credit cards that do not qualify for the consumer protections provided by the "Card Act" of 2009. Those protections were intended for you but you won't get them with these credit cards. The applications for these credit cards don't require any information about a business or profession, only that you check a box that says “Yes, I am a business owner” or something similar. That's enough to remove it from the protections provided from the Card Act.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Malcolm Ruthven | Attorney Advertising

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