Key facts
- Banks cannot issue new credit cards without a prior request or application, according to the Truth in Lending Act.
- Replacement cards for accepted accounts or those purchased from other banks are exceptions to this rule.
- Significant changes to credit card terms require 45 days' written notice and a rejection option.
- Receiving an unsolicited credit card could be a sign of identity theft.
- Individuals suspecting identity theft should obtain a free credit report annually from www.annualcreditreport.com.
- Promptly contacting the bank is advised to close any unsolicited accounts and remove them from credit history.
Receiving a rejection letter for a credit card that you did not apply for can be a concerning experience, potentially indicating either a clerical error by the bank or a more serious issue like identity theft. Under the Truth in Lending Act, banks are generally prohibited from issuing credit cards unless there has been a prior oral or written request or application for the card. Exceptions to this rule include issuing replacement cards for accepted credit cards or when a bank purchases existing accounts from another financial institution. In such cases, the terms of the new account do not necessarily have to match the old ones. If a bank intends to make substantial changes to the terms and conditions of a credit card, it must provide written notification at least 45 days before the changes take effect. This notice must include instructions on how to reject the new terms, and if rejected, the bank may terminate or suspend the account. If you receive an unsolicited credit card, it is crucial to contact your bank promptly. This could be a simple error, but it could also mean that a third party has applied for the card using your stolen identity. If identity theft is suspected, it is recommended to order a free credit report annually through www.annualcreditreport.com or by calling (877) 322-8228. The information provided on HelpWithMyBank.gov is intended to be helpful but should not be considered legal advice from the OCC.