http://www.asapcreditcard.com/blog/credit-news/unsolicited-citi-bank-credit-cards Credit Card Industry News, Information, Tips & Advice Sat, 05 Jul 2008 18:59:53 +0000 http://wordpress.org/?v=2.1.2 http://www.asapcreditcard.com/blog/credit-news/unsolicited-citi-bank-credit-cards#comment-333 Loopholes w/ Unsolicited Credit Card Offers - ASAP Credit Card Thu, 06 Mar 2008 17:49:55 +0000 http://www.asapcreditcard.com/blog/credit-news/unsolicited-citi-bank-credit-cards#comment-333 [...] Although the Federal Truth in Lending Act prohibits companies from sending credit cards to consumers without their request, there are loopholes. “When a company buys another company, they can decide to switch credit card providers or they can renew a credit card list,” said Linda Sherry, director of national priorities for advocacy group Consumer Action. They’re never supposed to send you a card you didn’t request, but they can replace your card with another card.” For instance, when Citigroup acquired the credit service division of Macy’s, they began replacing 3 million dormant Macy credit accounts with Citi Cards. [...] […] Although the Federal Truth in Lending Act prohibits companies from sending credit cards to consumers without their request, there are loopholes. “When a company buys another company, they can decide to switch credit card providers or they can renew a credit card list,” said Linda Sherry, director of national priorities for advocacy group Consumer Action. They’re never supposed to send you a card you didn’t request, but they can replace your card with another card.” For instance, when Citigroup acquired the credit service division of Macy’s, they began replacing 3 million dormant Macy credit accounts with Citi Cards. […]

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