Research On China’s Law Regulations Concerning The Unfair Clauses Of Credit Cards

In the Internet age for the consumer groups,cash or checks have become a backward means of payment,with the increase in credit card users will make the paper payment of consumers farther and farther.We also have to note that with the increase in the use of credit cards,the number of credit card disputes are also increasing rapidly,and these problems are largely related to the bank’s credit card charter or the unfair terms in the contract,the credit card industry is developing rapidly in domestic market,However,the corresponding regulatory system and the legal norms have not kept up with it,which has led to the fact that frequent bank irregularities and credit card litigation are increasing.The reasons to account for these phenomena are various,so it is very important to study it based on the system.In recent years,a lot of problems are exposed during the development and operation of the commercial banks in credit card business while the rapid development of the whole credit cards business.The problem such as the abuse of the credit cards’ unfair terms has not only damaged the interests of some credit card holders,but also do harm to the business development of the issuing bank.The rights of the card holders are often deprived of the unfair terms of the credit card contract.For example,the issuer can arbitrarily change the credit card contract without the consent of the card holders;the card issuer personally transfer the credit card fraud risk to the card holders;card holders’ private information has been frequently given away;cardholders shall not claim defense to the issuing bank which could claim to the specially engaged commercial unit and so on.Banks,as the credit card format contractor,are equipped with the corresponding exclusive status and economic advantages,which have correspondingly reduced their own responsibility.based on card holders can only passively accept its unfair terms based on their weak position,thus their legitimate rights and interests are seriously damaged.As the key element of the financial market,cardholders support the development of the entire credit market.The development of any market should not sacrifice the interests of cardholders,so dose the credit card market in China.This paper mainly researches on the regulation of the unfair clauses of credit cards,and expects to provide a few targeted constructive suggestions to China’s credit cards.This paper focuses on the four aspects of credit card’s unfair clauses: the clauses that eliminate the obligation of notifying changes in terms;the clauses that cut off the cardholders’ right of defense;the clauses that allocate the risk of being used fraudulently and the clauses that violate cardholders’ personal privacy.And from the related concepts of credit cards and legal relations concerning China’s supervision of credit card unfair terms,this paper analyzes the existing problems and causes of legal regulation,and then puts forward some suggestions on how to regulate the unfair terms of credit card in China from the guiding ideology to the supervision system,the legal system and the specific system.