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Can I collect credit card information from participants in Illinois? What are the requirements?

Based on the documents provided, there are several requirements that must be met when collecting credit card information from participants in Illinois.

Requirements for Collecting Credit Card Information in Illinois

  1. No person may be denied a credit card solely on account of unlawful discrimination [1.1].
  2. If an applicant for a credit card is rejected, the applicant must be informed of the reasons for such rejection [1.2].
  3. No credit card issuer shall issue, provide, assign or deliver in any way a credit card account to and in the name of any person under the age of 21 unless certain conditions are met [1.3].
  4. Any institution of higher education that receives any funds or items of value from the distribution of applications for credit cards to students pursuing an undergraduate education must disclose certain information [2.1].
  5. Credit card issuers must comply with certain disclosure requirements, including disclosing the annual percentage rate or rates of interest applicable to the account, the annualized membership and/or participation fee or charge, the grace period, and transaction fees [1.4].
  6. Credit card issuers must consider the financial status of a married couple when making a determination as to whether to issue a credit card [1.5].

Based on the documents provided, there are no specific requirements for collecting credit card information from participants in Illinois beyond the general requirements for credit card issuers. However, it is important to note that any entity collecting credit card information should ensure that they are complying with all applicable state and federal laws and regulations.

Therefore, if you are collecting credit card information from participants in Illinois, you should ensure that you are complying with all applicable laws and regulations, including those outlined in the documents provided.

Source(s):
Jurisdiction

Illinois