Legal Question in Credit and Debt Law in Virginia
credit card offers and liability
Hello--
Can credit card companies be held liable when unsolicited credit offers are stolen? For example, would ''Am-Ex'' be held responsible if they sent a pre-approved credit card application to someone, and it got into the wrong hands? And then that person ran up a huge balance?
Thank you!
1 Answer from Attorneys
Re: credit card offers and liability
A so-called pre-approved application for a credit card must still be signed and returned to the card issuer by the person for whom the application was intended to be received. If the latter never received and signed such an application and returned it to the card issuer, thereby agreeing to become the obligor of record on the account, then this person could not be held liable for any bogus or fraudulent charges on the account irrespective of how they may have come about.
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