Lead Bank
1 cardholder agreement · 373 KB
- Starting score100
- Forced arbitration (opt-out available)-12
- Class-action waiver-12
- Penalty APR-6
- Fair Terms score70 · grade B
See the exact wording behind each below.
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You can opt out of this issuer's forced arbitration
deadline ≈ 30 daysLead Bank's agreement lets you reject arbitration and keep your right to sue — usually within 30 days of opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…of this Agreement if (i) you do not cancel your Account within 30 days after receiving a Card, or (ii) you use your Card. You may, however, reject the Arbitration of Disputes section as explained in that section. COMMUNICATIONS CONSENT COMMUNICATIONS CONSENT You expressly consent and agree that Bank and our affiliates, agents, assignees and service providers may use written, electronic or verbal means to contact you. This consent includes, but is not limited to, contact by manual calling methods, prerecorded or artificial voice messages, text messages, emails and/or automatic telephone dialing systems. You agree that Bank and our affiliates, agents, assignees and service providers may use any email address or any telephone number you provide, now or in the future, including a number for a cellular phone or other wireless device, regardless of whether you incur charges as a result. For an…”
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 Lead 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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“…ment ) explains the current terms and conditions of your Account. The enclosed Pricing Schedule is part of this Agreement. THIS AGREEMENT CONTAINS AN ARBITRATION PROVISION. THIS PROVISION AFFECTS YOUR RIGHTS IN THE EVENT OF A DISPUTE WITH US, INCLUDING YOUR RIGHT TO BRING OR PARTICIPATE IN A CLASS ACTION LAWSUIT. THE AR…”
You can't band together with other cardholders in a class action.
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“…s choice-of-law rules. Severability If any part of this Agreement is found to be invalid, the rest of it will still remain in effect. However, if the waiver of class actions in the ARBITRATION section is invalidated in any proceeding in which you and we are involved, then the entire ARBITRATION section will be voi…”
Slip up and your rate can jump to a much higher penalty APR.
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“…will vary with the market based (APR) for Purchases on the Prime Rate APR for Balance Transfers Not Applicable. APR for Cash Advances Not Applicable. Penalty APR and When it None. Applies Your due date is at least 25 days after the close of each billing period (at least 23 days How to Avoid Paying for billing…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…sclosures of this Agreement if (i) you do not cancel your Account within 30 days after receiving a Card, or (ii) you use your Card. You may, however, reject the Arbitration of Disputes section as explained in that section. COMMUNICATIONS CONSENT COMMUNICATIONS CONSENT You expressly consent and agree that Bank and our…”
Checked & clear: Jury-trial waiver · Deferred interest · Change-anytime clause
Cardholder agreements
Filed with the CFPB in the 2026 Q1 bulk submission. Opens the original PDF.