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HelpWithMyBank.gov

HelpWithMyBank.gov

Get answers to banking questions

Credit Cards, Debit Cards, and Gift Cards

Credit, debit, and gift cards have made the access to credit more convenient, but they come with terms and conditions that consumers should understand. Laws that went into effect in 2010 provide added protection to consumers. Read Answers about Credit Cards for more information.

Credit Card Practices

The OCC has issued guidance to national banks on credit card practices that are unacceptable because they may constitute unfair or deceptive acts or practices. The OCC has also taken a number of formal enforcement actions against national banks that have engaged in abusive practices and has required the payment of millions of dollars in restitution to customers harmed by such practices.

Debit Cards

Consumers often use debit cards similarly to credit cards, but they are very different. Debit cards take money directly from the bank account rather than borrowing money at a rate of interest, and they often use a personal identification number (PIN) instead of a signature. Because debit cards deduct the purchase amount from your account, using the card carelessly can result in overdrafts, which may result in high fees. Read more about overdraft protection.

Gift Cards

See Answers about Gift Cards at our HelpWithMyBank Web site. The agency also produces a variety of public service announcements to help make consumers more aware of rules and risks regarding gift cards. Read the latest public service feature (PDF) and listen to the latest (MPG).


Related News and Issuances
Publish DateIdentifierTitle
09/18/2018  NR 2018-100, Agencies Propose Rule Regarding the Treatment of High Volatility Commercial Real Estate
09/18/2018  OCC 2018-29, Covered Savings Associations: Notice of Proposed Rulemaking
09/14/2018  NR 2018-99, Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Florence
09/13/2018  NR 2018-98, OCC Hosts Credit Risk and Operational Risk Workshops in San Francisco
09/12/2018  OCC 2018-28, Deposit-Related Credit: Updated Comptroller’s Handbook Booklet