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You can opt out of this issuer's forced arbitration
deadline ≈ 60 days
Commerce Bank's agreement lets you reject arbitration and keep your right to sue — usually within 60 days of opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…and why you believe it You and we agree that either of us may elect to resolve any Claims (as is a mistake. defined below) through binding arbitration unless you opt out of the You must contact us: agreement to arbitrate as set forth below, or unless prohibited by law. If Within 60 days after the error appeared on your Statement. you or we elect to resolve a Claim through arbitration, neither you nor we At least 3 Business Days before an automated payment is will have the right to pursue such claim in court or have a jury decide the scheduled, if you want to stop payment on the amount you claim, nor will you or we have the right to bring or participate in any class think is wrong. or other representative action in court or in arbitration. You must notify us of any potential errors in writing. You may call us, but if you do, we are not required to investigate any potential errors and you…”
“…unt of your DISPUTE RESOLUTION JURY TRIAL WAIVER. You have the Revolving Credit Line less outstanding balances, including Fees and right to opt out of the agreement to arbitrate by notifying us within Interest Charges and will be indicated on your Statement. Your the time period provided for in the DISPUTE RESOLUTION outstanding balance will limit Cash Advance availability. The Cash Limit ARBITRATION section. does not apply to Overdraft Cash Advances. Overdraft Cash Advances will be subject to the term of the Account s No Pre Set Spending Limit. In this Agreement: Account is your credit card account. We may increase, reduce or cancel your Revolving Credit Line and/or Annual Fee is a Fee charged on a yearly basis for your continued use of Cash Limit at any time without prior notice or liability. A change to your the Account. Revolving Credit Line and/or Cash Limit will not affect your obl…”
“…zation DISPUTE RESOLUTION JURY TRIAL WAIVER. You have the request for any transaction for any reason, included but not limited to: right to opt out of the agreement to arbitrate by notifying us within operational considerations, the time period provided for in the DISPUTE RESOLUTION your Account is in default, ARBITRATION section. we suspect fraudulent or unlawful activity In this Agreement: We are not responsible for any losses or damages, including Account is your credit card account. consequential damages, if a transaction on your Account is declined, Annual Fee is a Fee charged on a yearly basis for your continued use of either by us or a third party, even if you have sufficient credit available. the Account. APR is Annual Percentage Rate. PROMISE TO PAY ATM is Automated Teller Machine. You promise to pay for all Purchases, Balance Transfers, Convenience Balance Transfer is an advanc…”
Detected in the CFPB-filed cardholder agreements from Commerce Bank. Verbatim quotes below — CardSleuth flags the language; this isn't legal advice.
Forced arbitration
You give up your right to sue in court — disputes are pushed into private arbitration.
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“…successors and Balance Transfer, or Convenience Check balance and your respective assigns. periodic interest rate applied. This Agreement contains an arbitration provision, a class action We may limit the number of active Installment Plans you can have at one waiver, and a jury trial waiver. Please read the entire secti…”
“…s Commerce Bank, our successors and Convenience Check balance and your respective periodic interest rate assigns. applied. This Agreement contains an arbitration provision, a class action We may limit the number of active Installment Plans you can have at one waiver, and a jury trial waiver. Please read the entire secti…”
“…ou and we agree that either of us may elect to resolve any Claims (as payment is scheduled, if you want to stop payment on the defined below) through binding arbitration unless you opt out of the amount you think is wrong. agreement to arbitrate as set forth below, or unless prohibited by law. If You must notify us of…”
You can't band together with other cardholders in a class action.
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“…if you want to stop payment on the amount you claim, nor will you or we have the right to bring or participate in any class think is wrong. or other representative action in court or in arbitration. You must notify us of any potential errors in writing. You may call us, but if you do, we are not required to investigate…”
“…as a result. against you to enforce our rights under this Agreement, you explicitly Phone numbers and email addresses, you provide include those you waive your right to participate in a class action in court either as a class give to us, those from which you contact us or which we obtain through representative or class member related to an…”
“…legal action regarding the specific Fees that may be charged to your Account. against you to enforce our rights under this Agreement, you explicitly waive your right to participate in a class action in court either as a class Balance Transfer Or Convenience Check Transaction Fee representative or class member related to any counterclaim yo…”
You waive your right to have a dispute heard by a jury.
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“…ate applied. This Agreement contains an arbitration provision, a class action We may limit the number of active Installment Plans you can have at one waiver, and a jury trial waiver. Please read the entire section titled time and reserve the right to change this number at any time. Installment DISPUTE RESOLUTION - AR…”
“…ns. applied. This Agreement contains an arbitration provision, a class action We may limit the number of active Installment Plans you can have at one waiver, and a jury trial waiver. Please read the entire section titled time and reserve the right to change this number at any time. Installment DISPUTE RESOLUTION - AR…”
“…unt relationships with us, if applicable, and your This Agreement contains an agreement to arbitrate, a class action experience with other creditors. waiver, and a jury trial waiver. Please read the entire section titled DISPUTE RESOLUTION - ARBITRATION and the section titled Your Account is subject to a Cash Limit e…”
The issuer reserves the right to change your rates, fees and terms at any time.
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“…service to which the provisions of the Servicemembers Civil without further notice to you. Relief Act (SCRA) apply ( Exceptions ). Otherwise, we may change the Merchants with whom you ve shared your Account number may be terms of the Agreement at any time, after notice and the right to reject if updated with new Account information to ensure the continuation of required by law. Changes in any APR, othe…”
“…for copy Relief Act (SCRA) apply ( Exceptions ). Otherwise, we may amend, requests related to billing error resolution within 60 days of the disputed change, revise, or update the terms of the Agreement, or add new terms, transaction. at any time, after notice and the right to reject if required by law. Changes in any APR, other than the stated Exceptions, Annual Fee or TOTAL FEE COMPUTATION m…”
“…any time the provisions of the Servicemembers Civil Relief Act (SCRA) apply. without further notice to you. ( Exceptions ). Otherwise, we may amend, change, revise, or update Merchants with whom you ve shared your Account number may be the terms of the Agreement, or add new terms, at any time, after notice updated with new Account information to ensure the continuation of and the right to reject if required by law. Changes in any APR, othe…”
Slip up and your rate can jump to a much higher penalty APR.
Jumps to ~23.99%
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“…harge for each billing a $40 Late Payment Fee. At no time will the Late Payment Fee exceed cycle. the amount of the required minimum monthly payment. PENALTY RATE AND WHEN IT APPLIES Overlimit Fee If at any time we have not received the required minimum monthly In the event your balance exceeds your credit limi…”
“…vances. (Non-Overdraft & Overdraft) Prime Rate plus 21.99% for Overdraft Cash Advances. These APRs will vary with the market based on the Prime Rate. Penalty APR and When it Prime Rate plus 23.99% Applies This APR will vary with the market based on the Prime Rate. This APR may be applied to your Account if you…”
“…Plans) to obtain your total Interest Charge for each billing cycle. Overlimit Fee In the event your balance exceeds your credit limit, no Fee will be PENALTY RATE AND WHEN IT APPLIES charged. If at any time we have not received the required minimum monthly payment within 60 days of the respective payment due da…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…e is wrong and why you believe it You and we agree that either of us may elect to resolve any Claims (as is a mistake. defined below) through binding arbitration unless you opt out of the You must contact us: agreement to arbitrate as set forth below, or unless prohibited by law. If Within 60 days after the error appeared on you…”
“…to the amount of your DISPUTE RESOLUTION JURY TRIAL WAIVER. You have the Revolving Credit Line less outstanding balances, including Fees and right to opt out of the agreement to arbitrate by notifying us within Interest Charges and will be indicated on your Statement. Your the time period provided for in the DISPUTE RESOLUTION outstan…”
“…an authorization DISPUTE RESOLUTION JURY TRIAL WAIVER. You have the request for any transaction for any reason, included but not limited to: right to opt out of the agreement to arbitrate by notifying us within operational considerations, the time period provided for in the DISPUTE RESOLUTION your Account is in default, ARBITRATION se…”