New Jersey § 18a:3c-3
Full text of New Jersey New Jersey Statutes § 18a:3c-3, with citation guidance and answers to common questions.
§ 18a:3c-3.
a. A credit card issuer, with an approved registration as filed pursuant to section
2 of this act, 1 who solicits applications for credit cards on a campus of an institution of higher
education shall provide to students of that campus a one-time, on-campus program of
education on the responsible use of credit. b. A program of education on the responsible use of credit that meets the requirements
of subsection a. of this section shall include at a minimum: (1) A full explanation of the financial consequences of not paying off credit card
balances in full within the time specified by the billing statement to avoid interest
charges, including an explanation of how the credit card issuer computes interest
on unpaid balances; (2) A full explanation of the impact of a shift from an introductory or initial interest
rate to an ongoing interest rate that is higher, including the exact time when the
higher ongoing interest rate takes effect, and a description of acts on the part of
the cardholder that will cause an immediate shift to the higher interest rate; (3) A full explanation, with examples, of how long it would take to pay off various
illustrative balance amounts by paying the minimum monthly payment required under
the credit card agreement at the interest rate charged by the credit card issuer; (4) A full explanation of credit related terms, including fixed rates, variable rates,
introductory rates, balance transfers, grace periods, annual fees and any other fees
charged by the credit card issuer; and (5) A full discussion of the generally accepted prudent uses of credit, and the consequences
of imprudent uses, as presented by recognized consumer credit counseling agencies. 1
L.2009, c. 148 (N.J.S.A. § 18A:3C-2).
Frequently Asked Questions About New Jersey § 18a:3c-3
What does New Jersey Statutes § 18a:3c-3 cover?
Section 18a:3c-3 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:3c-3?
A common citation format is "New Jersey Statutes § 18a:3c-3" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:3c-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.