Merchants Bank, National Association
1 cardholder agreement · 238 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
Merchants Bank, National Association'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:
“…e in any form of class or representative from your Account at any point in time. action, as well as discovery and rights to appeal. You can opt out of the Arbitration Provision by following the instructions in that section and Minimum Payment Due means the minimum amount that you must notifying us within the specified time. pay to us by the Payment Due Date in order to keep your Account cur- rent. You can request a current version of this Agreement by contacting us. Statement means the document that we generally provide to you each CONTACTING US Statement Period that shows Account activity and amounts you owe. Except as explicitly set forth in this Agreement, you can contact us with Each Statement reflects a single Statement Period. questions or other matters about your Account by: Calling us toll-free at 1-833-794-0032; Statement Balance or Account Balance means the total amount Emailin…”
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 Merchants Bank, National Association. 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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“…s the maximum dollar amount of any Cash Advances we allow on your Account at any point in time. This Agreement also includes a Dispute Resolution and Arbitration provision that limits the right to maintain a court action, the right to a Credit Limit means the maximum amount of credit you may access jury trial, the right…”
You can't band together with other cardholders in a class action.
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“…HE RIGHT TO A JURY TRIAL, THE RIGHT TO in applicable law or regulatory authority, that provision will continue to PARTICIPATE IN ANY FORM OF CLASS OR REPRESENTATIVE ACTION, AS be enforceable to the extent permitted by that court, law or agency, and WELL AS DISCOVERY AND RIGHTS TO APPEAL. YOU HAVE THE RIGHT the remainder…”
You waive your right to have a dispute heard by a jury.
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“…m also includes, without limitation, disputes con- cerning your credit card, disclosures, finance charges, late charges, How Claims Will Be Resolved; Jury Trial Waiver - You or we may purchases, payments, insurance, security, default, credit transactions, elect to resolve any Claim through binding and final arbitr…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…participate in any form of class or representative from your Account at any point in time. action, as well as discovery and rights to appeal. You can opt out of the Arbitration Provision by following the instructions in that section and Minimum Payment Due means the minimum amount that you must notifying us within the spe…”
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.