Payments

• A credit card company must credit a consumer's account with a payment the same day as it is received and cannot charge late fees on an account once payment is received.
  
  

Errors

• Under federal law, it is the responsibility of the consumer to notify the credit card company of errors on an account statement. In response, the credit card company has two billing cycles or 90 days to respond and rectify the error.
  
  

Fraudulent Charges

• Contrary to popular belief, a credit card company is entitled to hold the consumer responsible for $50 of fraudulent charges; however, the majority of credit card companies waive this right in the event of fraud.
  
  

Account Changes

• When changes are made to a credit card account, the consumer must be notified in writing of these changes and has the right to reject the proposed changes to an account. Consumers should follow the guidelines laid out in the section of the notice entitled non-acceptance instructions.
  
  

Complaints

• Complaints against credit card companies can be filed online with both the Federal Trade Commission and at a local level with a state Attorney General.