Generally.

A. Generally. A credit card account has not been opened for purposes of 226.55(3)(iii) when a credit card account issued by a card issuer is substituted, replaced, or consolidated with another credit card account issued by the same card issuer (or its affiliate or subsidiary). Circumstances in which a credit card account has not been opened for purposes of 226.55(b)(3)(iii) include when:
(1) A retail credit card account is replaced with a cobranded general purpose credit card account that can be used at a wider number of merchants;
(2) A credit card account is replaced with another credit card account offering different features;
(3) A credit card account is consolidated or combined with one or more other credit card accounts into a single credit card account; or
(4) A credit card account acquired through merger or acquisition is replaced with a credit card account issued by the acquiring card issuer.

Source

12 CFR § Supplement_I_to_part_226


Scoping language

None
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