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#85814 - 06/05/03 04:59 PM HELOC and "credit card" Access Device
Fortyniner Offline
Junior Member
Fortyniner
Joined: Jan 2003
Posts: 37
On the Wire
If the bank offers a "credit card" access device as a new method of accessing the HELOC credit, I understand that we need a positive assent from the customer before providing the card.

Since the terms will be the same as the existing HELOC can we just provide the card in a mailing with the notation that all terms and conditions applicable to this account are currently in force with the existing HELOC agreement?

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General Discussion
#85815 - 06/05/03 05:31 PM Re: HELOC and "credit card" Access Device
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 80,383
Galveston, TX
You need to review 226.9(b) - click to read a reg above and pick Reg Z.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#85816 - 06/05/03 05:51 PM Re: HELOC and "credit card" Access Device
SteveG Offline
Member
Joined: Jul 2001
Posts: 58
Also remember to check state law, some prohibit the use of plastic to access a HELOC.

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