Credit Card Contracts or Agreements

[jarrettone]

From California
My credit card company has informed me that I must send a letter to them stating that I do not wish to wave my right to sue them and if they due not receive the letter they will assume that I have waved that right and all disputes between us will forever more be handled through a third party arbitrator.
Question = Do I want to retain this right or is it better for me to have disputes handled through an arbitrator?

Brian Jarrett
[email protected]

 

[loku]

Arbitration

You may not have to choose. If you do not waive the right to sue, do you still have the option of going to arbitration? If so, then you lose nothing by keeping the right to sue.

If you do lose the right to select arbitration if you do not waive the right to sue, then consider that arbitration is a much more informal and inexpensive process than a law suit.

Here is a link to the FreeAdvice material on arbitration. That matterial will give you a good idea of what arbitration is and its advantages and disadvantages:
https://law.freeadvice.com/litigation/arbitration/