NSW Which Documents Create a Valid Credit Card Contract?

[Marg4578]

Hi, I am wondering which documents create a valid credit card contract. Should there be a contract with both signature (person taking the card and the bank)? Or is an application form signed by the applicant enough with some sort of response from the bank accepting or rejecting the application?

 

[Sophea]

Hi Marg4578,

The latter is sufficient and is most often the way credit contracts are entered into. What is the issue?

 

[Marg4578]

Thanks for the answer Sophea. Is there some law you can point to that substantiates that? To my knowledge the Credit Act section 12 says that contracts need to be signed bi-laterally by both parties, which seems to contradict that an application and letter of offer would be sufficient. I find this confusing.