P-40.1 - Consumer Protection Act

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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.
2017, c. 242017, c. 24, s. 27.