Comment for 1026.58 - Internet Posting of Credit Card Agreements
58(b)(8) Private Label Credit Card Account and Private Label Credit Card Plan
- 1026 (Regulation Z)
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58(b)(8) Private Label Credit Card Account and Private Label Credit Card Plan
61(a)(2) Prepaid Card Can Access Credit From a Covered Separate Credit Feature
The requirements of this section apply to any card issuer that issues credit cards under a credit card
(iii) Allow an existing credit feature that was opened prior to the consumer obtaining the prepaid account
Credit extended directly from a non-overdraft credit line is governed solely by Regulation Z, even though
(D) The credit contract provides that repayment of the amount of the credit extended is:
A credit card account is replaced with another credit card account offering different features;
Fees in connection with covered separate credit features accessible by hybrid prepaid-credit cards.
Credit card accounts in connection with prepaid accounts.
Student credit plans involve extensions of credit for education purposes where the repayment amount and
Credit property insurance.
The card cannot access credit from a covered separate credit feature under § 1026.61(a)(2)(i) that
Credit subaccount on a prepaid account.
(20) Open-end credit means consumer credit extended by a creditor under a plan in which:
(1) Application fees charged to all applicants for credit, whether or not credit is actually extended
(c) Timing requirement for credit card solicitation or application with respect to hybrid prepaid-credit
because available credit is generally replenished as earlier advances are repaid.
feature accessible by a hybrid prepaid-credit card as defined by § 1026.61 that is a credit card
(iv) Lines of credit accessed solely by account numbers except for a covered separate credit feature
If the conditions of § 1026.61(a)(4) are met and the prepaid card can access credit from a covered
Consideration of credit history.
Under § 1026.61(a)(2)(i), a separate credit feature that meets the conditions of § 1026.61(
(a) Issuance of credit cards.
(ii) “private label credit card plan” means all of the private label credit card accounts issued by a
(1) The consumer borrows the full credit line at account opening with no additional extensions of credit