Beneficial State Bank
1 cardholder agreement · 151 KB
- Starting score100
- Forced arbitration (opt-out available)-12
- Class-action waiver-12
- Jury-trial waiver-8
- Fair Terms score68 · grade C
See the exact wording behind each below.
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You can opt out of this issuer's forced arbitration
Beneficial State Bank's agreement lets you reject arbitration and keep your right to sue — usually within a short window after opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…THE AGREEMENT CAREFULLY. IT PROVIDES THAT ANY DISPUTE MAY BE RESOLVED BY BINDING ARBITRATION AT EITHER PARTY S REQUEST. UNLESS YOU PROMPTLY REJECT IT, THE ARBITRATION AGREEMENT WILL HAVE A SUBSTANTIAL AFFECT ON YOUR RIGHTS IN THE EVENT OF A DISPUTE. ARBITRATION REPLACES THE RIGHT TO GO TO COURT, INCLUDING THE RIGHT TO A JURY AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING. IN ARBITRATION, A DISPUTE IS RESOLVED BY AN ARBITRATOR INSTEAD OF A JUDGE OR JURY. ARBITRATION PROCEDURES ARE SIMPLER AND MORE LIMITED THAN COURT PROCEDURES. THIS ARBITRATION AGREEMENT DOES NOT APPLY TO MEMBERS OF THE ARMED FORCES OR OTHER COVERED BORROWERS SUBJECT TO THE MILITARY LENDING ACT. IF YOU ARE A MEMBER OF THE ARMED FORCES OR A COVERED BORROWER AND HAVE A DISPUTE WITH US THAT CANNOT BE RESOLVED, YOU MAY PURSUE THE DISPUTE IN EITHER COURT OR BY ARBITRATION. Agreement to Arbitrate: Maintain…”
Read the exact mailing address in the clause above, then use our opt-out letter template and full guide →
Contract X-Ray — what's buried in the fine print
3 red flags · 1 filed docDetected in the CFPB-filed cardholder agreements from Beneficial State Bank. Verbatim quotes below — CardSleuth flags the language; this isn't legal advice.
You give up your right to sue in court — disputes are pushed into private arbitration.
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“…parts of this Agreement. ARBITRATION AGREEMENT PLEASE READ THIS PROVISION OF THE AGREEMENT CAREFULLY. IT PROVIDES THAT ANY DISPUTE MAY BE RESOLVED BY BINDING ARBITRATION AT EITHER PARTY S REQUEST. UNLESS YOU PROMPTLY REJECT IT, THE ARBITRATION AGREEMENT WILL HAVE A SUBSTANTIAL AFFECT ON YOUR RIGHTS IN THE EVENT OF A D…”
You can't band together with other cardholders in a class action.
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“…AND WE ARE GIVING UP THE RIGHT TO TRIAL BY JURY AND (2) THIS SECTION PRECLUDES YOU AND US FROM PARTICIPATING IN OR BEING REPRESENTED IN ANY CLASS OR REPRESENTATIVE ACTION OR JOINING OR CONSOLIDATING THE CLAIMS OF OTHER PERSONS. In addition, your agreement to arbitrate and waive trial by jury shall be applicable to part…”
You waive your right to have a dispute heard by a jury.
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“…PRESENTED IN ANY CLASS OR REPRESENTATIVE ACTION OR JOINING OR CONSOLIDATING THE CLAIMS OF OTHER PERSONS. In addition, your agreement to arbitrate and waive trial by jury shall be applicable to parties acting on our behalf, including agents or independent contractors who collect your account on our behalf or purchase y…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…VISION OF THE AGREEMENT CAREFULLY. IT PROVIDES THAT ANY DISPUTE MAY BE RESOLVED BY BINDING ARBITRATION AT EITHER PARTY S REQUEST. UNLESS YOU PROMPTLY REJECT IT, THE ARBITRATION AGREEMENT WILL HAVE A SUBSTANTIAL AFFECT ON YOUR RIGHTS IN THE EVENT OF A DISPUTE. ARBITRATION REPLACES THE RIGHT TO GO TO COURT, INCLUDING THE RI…”
Checked & clear: Deferred interest · Change-anytime clause · Penalty APR
Cardholder agreements
Filed with the CFPB in the 2026 Q1 bulk submission. Opens the original PDF.