ID Theft

Who is the credit card monitoring agency? For example, businesses are monitored by the Better Business Bureau.

Public Comments

1. It depends. If your credit card provider is a national bank, it is likely that they are regulated by the Federal Trade Commission for consumer offerings. If your credit card is a state chartered bank and you suspect a problem, you should contact your states attorney general.
2. Credit Cards are monitored by the group issuing the credit card. Most credit card issuers sub contract this out to one of the large groups that specialize in this. First Data is the parent company of most of these groups. MBNA was another large one that was recently purchased by Bank of America. The credit card companies are monitored by a division of the Federal Reserve. If you want to check your credit score or see what your credit card companies say about you there are 3 personal credit reporting bureaus. Equifax--This one is the largest. www.equifax.com TransUnion--www.transunion.com Experian---www.experian.com
3. Actually your question has a false premise because the Better Business Bureau really doesn't "monitor" businesses, it just is a clearinghouse for complaints. There is no agency that "monitors" credit card companies. It is a free market and banks are free to set their own rates and terms and to who they offer credit to. That is why you see lots of people in trouble with their credit cards because the laws that used to cap rates are being repealed since the banks have successfully lobbied to do that. That's why you see "penalty/default" rates as high as 31.99% on some credit cards. Good Luck
4. It depends on the form of financial institution issuing the credit card. It could be the OCC, Federal Reserve, National Association of Credit Unions or any other number of federal regulators charged with monitoring the financial services industry.