Truth in Lending: 7.12.4 Protections Apply to All Types of Credit Cards, Including Telephone Cards
The credit card issuance restrictions in Regulation Z apply to all credit cards, even if they are issued for use in connection with otherwise exempt extensions of credit.1475 A 1984 amendment, aimed primarily at telephone credit cards, made this coverage clear.1476 Calling cards issued by a telephone company are subject to TILA’s issuance restrictions even if the user is merely allowed to defer payment until the monthly bill is received, rather than rolling over the balance from one