Am I as a consumer obligated to accept a credit card from my bank?
November 27, 2022 | 40,00 EUR | answered by Alwin Reuter
Dear Bank Law Attorney,
I am Elvira Pasche and I have a question regarding credit cards. I have been a customer at my bank for many years and also have a checking account there. Recently, my bank sent me a credit card without me requesting it. However, I never applied for a credit card and I am unsure if I really have to accept it.
I am generally not a fan of credit cards, as I prefer to work with my own budget and do not want to incur additional debt. Furthermore, I have heard that credit cards are often associated with high interest rates and fees. Therefore, I am concerned if I can simply reject my bank's credit card without fearing negative consequences.
Can you please tell me if as a consumer, I am obligated to accept my bank's credit card? Are there any legal regulations or contract terms that could force me to do so? Or do I have the right to refuse the credit card and continue to only use my checking account?
I would greatly appreciate it if you could provide me with clarity on this issue and possibly suggest potential solutions.
Sincerely,
Elvira Pasche
Dear Ms. Pasche,
Thank you for your inquiry regarding the unsolicited credit card sent to you by your bank. It is understandable that you are concerned and wondering whether you must accept the card or if you can reject it without fear of negative consequences.
In general, banks are not allowed to send products to consumers unsolicited, unless it is a replacement card or a previously agreed upon service. So if you never applied for a credit card with your bank, you are not obligated to accept it. You have the right to decline the credit card and continue to use only your checking account.
It is important that you do not activate or use the unsolicited credit card, as this could be interpreted as implicit acceptance of the contract. Instead, I recommend that you declare in writing and with proof to your bank that you do not accept the unsolicited credit card and request for its return or cancellation of the contract.
If the bank still insists on you accepting the card or threatens you with negative consequences, I recommend that you immediately seek the advice of a banking law attorney to defend your rights and consider legal action.
Regarding the fees and interest rates of credit cards, it should be noted that banks are required to provide transparent information about the costs of their products. You have the right to review the terms and conditions of your credit card and request clarification from the bank if there are any uncertainties or doubts.
In conclusion, I want to emphasize that consumer protection and transparency in banking are of great importance. As a consumer, you have the right to freely choose which financial products you want to use, and you are never obligated to accept unsolicited credit cards.
I hope this information is helpful to you and I am available to assist you with any further questions.
Sincerely,
Alwin Reuter
