Question

According to the Fair Credit Billing Act, what must customers receive when they open a credit card account?

a. a reward such as a low APR
b. a statement of customer rights
c. a sample bill
d. a chance to choose their billing cycle

Answer 1

Customers must receive a statement of customer rights when they open a credit card account. The correct answer is b. a statement of customer rights.

Step-by-step explanation:

The correct answer is b. a statement of customer rights. According to the Fair Credit Billing Act, customers must receive a statement of their rights when they open a credit card account. This statement outlines the rights and protections that customers have in relation to their credit card transactions, including the right to dispute billing errors and the right to receive a resolution within a specific timeframe.