All of the following are provisions of the Credit CARD Act of 2009, except
A) cardholders must be given at least 21 days from the day in which the bill is mailed to make a payment.
B) cardholders younger than age 21 must show proof of their income or have a co-signer.
C) cardholders can spend beyond the limit imposed on the credit card.
D) promotional interest rates must be offered for a period of at least six months.

Question

Quizplus · Accepted Answer

The Credit CARD Act of 2009 includes provisions to protect consumers, such as requiring a 21-day payment window, age and income requirements for young cardholders, and a minimum duration for promotional rates. However, it does not allow cardholders to spend beyond their credit limit without their explicit consent; instead, it restricts over-limit fees and transactions unless the cardholder opts into such over-limit spending.

All of the Following Are Provisions of the Credit CARD