Are credit card solicitations received in the mail legitimate?

 It is not unlawful for a bank or credit card company to solicit you to apply for a credit card through the mail. If you are being asked to pay an upfront fee for the privilege of receiving a credit card or you are not familiar with the reputation of the company soliciting your business, you should call the state bank regulator of the entity's headquarters state (if it is a state-chartered bank) or the Office of the Comptroller of the Currency (in the case of all national banks) to determine the legitimacy of the entity. Your local Better Business Bureau may also be helpful. Additionally, Section 520 of the New York General Business Law requires that all application forms or pre-approved written solicitations to enter into a credit card agreement for personal, household or family purposes must contain certain disclosures (e.g. APR., annual fee, grace period for purchases) in a box form. A similar requirement is found in Regulation Z of the Federal Reserve System.

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New York State Consolidated Laws
New York General Business Law, Article 29-A, Section 520
URL: http://assembly.state.ny.us/cgi-bin/claws?law=44&art=65
Contact: Consumer Representative
Phone: 18005223330 or Fax: 2126186440