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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
02/21/2019  OCC 2019-8, Loans in Areas Having Special Flood Hazards—Private Flood Insurance: Final Rule
02/15/2019  NR 2019-19, Agencies Extend Comment Period on Proposed Standardized Approach for Calculating the Exposure Amount of Derivative Contracts
02/15/2019  NR 2019-18, OCC Enforcement Actions and Terminations for February 2019
02/14/2019  NR 2019-17, Revised Data Released for Stress Tests
02/13/2019  OCC 2019-7, Amendments to the Stress Testing Rules for National Banks and Federal Savings Associations: Notice of Proposed Rulemaking