119.1. A credit card application form or the accompanying documents must contain or state the following:
(a) the credit rate or, if it is a variable rate, the initial credit rate, the index to which the credit rate is linked and the relationship between the index and the credit rate;
(b) the grace period given the consumer to pay outstanding amounts without having to pay credit charges, except as regards money advances;
(c) the nature of the charges and how they are determined; and
(d) the date as of which the information referred to in subparagraphs a to c is current.
If the credit card is applied for remotely, the merchant must, before accepting the application, disclose to the consumer the information required under the first paragraph.