Pre-approved credit card offers must provide with each written solicitation a clear and conspicuous statement that a credit reporting agency was the source of the information and that the consumer can opt out. The follow form is an example of such a notice.
Wyoming Notice to Accompany Credit Card Offer — Right to Prohibit Use of In Wyoming, when issuing credit card offers, financial institutions are required to include a Notice to Accompany the offer, providing important information to consumers. This notice serves to inform individuals about their right to prohibit the use of their credit card and outlines the associated procedures and regulations. Key elements of the Wyoming Notice to Accompany Credit Card Offer — Right to Prohibit Use of: 1. Purpose: The purpose of this notice is to explain the consumer's right to prohibit the use of their credit card and to outline the steps they need to take to exercise this right. 2. Disclosure: The notice begins by clearly disclosing the consumer's right to prohibit the use of their credit card, ensuring transparency regarding this option. 3. Exercising the Right: It explains that consumers who wish to exercise their right to prohibit the use of their credit card must notify the issuing financial institution in writing. This notification should include the cardholder's name, account number, and a clear statement indicating their desire to prohibit the use of the credit card. 4. Effective Date: The notice specifies the date from which the prohibition will take effect once the financial institution receives the written notice, ensuring clarity to customers regarding timelines. 5. Liability: It clarifies that the consumer will not be liable for any charges or fees incurred after the effective date of the prohibition, provided they have notified the financial institution appropriately. Types of Wyoming Notice to Accompany Credit Card Offer — Right to Prohibit Use of: 1. Initial Notice: This notice is included with the first credit card offer received by the consumer. It explains their right to prohibit the use of the credit card before they activate it or make any transactions. 2. Periodic Notices: Financial institutions may be required to send periodic reminders to customers, reiterating their right to prohibit the use of their credit card and explaining the steps to exercise this right. These periodic notices ensure that consumers are consistently aware of their options and rights. 3. Updated Notices: In case there are any amendments to the procedures or regulations related to the right to prohibit the use of a credit card, financial institutions must issue updated notices. These notices ensure customers are informed of any changes and can exercise their rights accordingly. Wyoming Notice to Accompany Credit Card Offer — Right to Prohibit Use of is a crucial part of ensuring consumer protection in credit card transactions. By educating consumers about their rights and providing clear instructions, this notice enables individuals to maintain control over their credit card usage and avoid unauthorized charges.
