Credit Card Transactions, The Cardholder Protection

Credit cards are a new financial instrument, its convenience and safety features deeply cardholders welcome, the credit card business in China have also been developed rapidly. However, in credit card transactions, due to the imperfections of our relevant institutions, by loopholes in existing legislation, issuing firms used a large number of standard terms to shift their risks, rights and interests of cardholders carry out all kinds of restrictions and deprivation, damage the interests of cardholders events have occurred, it greatly weakened the enthusiasm of the cardholder to use credit cards.That will ultimately affect the entire credit card industry's development. Therefore, strengthening the legal protection of credit cardholder's right and interests is the key to future legislation of the credit card industry.In other countries, some of credit consumption developed countries, such as the United States, Britain, Japan,have a considerable emphasis on consumer credit legislation, have been developed a lot of legal norms about the credit card fund transfers in the last century. At the same time, these countries attache great importance to safeguard the rights and interests of cardholders.In the main trade-offs of the cardholder and the other parties, the government always protect the credit cardholders'rights and interests as a basic value orientation of National legislation related to credit cards. In the question of unauthorized transfer responsibility and the cardholder's defenses, specific provisions in these countries have highlighted a strong tendency of interest, a number of measures to safeguard the interests of cardholders in particular, we should learn from.In China, the legal regulations there is a lack of credit card transactions .On the one hand, the lack of system for effective law in the credit card transaction, the provisions of the existing regulation of credit card transactions and regulations scattered of being more, and more in the form of regulations, effect low level control and can control a small area, difficult to adapt to modern society, popular demand for credit card transactions; the other hand, the protective of cardholder's rights is poor on the credit card transactions, mainly in the event of unauthorized transfer issues and the cardholder defenses issue, either in China law gaps exist, or is simply adopted a"broad-brush"approach, greatly reduces the flexibility of the law applicable, but also cause trouble when the cardholder Rights.The present situation of credit card industry shows that have the vast domestic market and abundant human resources community in China, credit card industry already has the necessary external conditions. At this time, strengthen the relevance and completeness of the credit card transactions law, more standard credit card transactions, so as to stabilize the credit card industry trade order, that is the key to develop the credit card industry.Through the analysis of the real social environment, it point out the key areas of interest related to the cardholder in the credit card transactions .In the analysis involved in credit card transactions on the basis of the relevant legal relationship ,it put the unauthorized transfer and cardholders the right to defenses as a focal point, analysis the legislation of the United States, Britain and other countries, point out the the specific deficiencies in protecting the interests of cardholder in our country, propose specific recommendations for certain targeted.At the same time, macro-regulation system for credit card transactions on the problems, also made some comments. We should expedite the development of China's credit card-related legislation so that we can lay a solid legal basis for the future development of credit card business.