Forgive my stupidity...but what exactly is arbitration and why would you reject it with the credit card companies? I've got 3 cc's on the way and it'd be nice to know about this info in case anything unexpected happens.
From what I understand binding arbitration usually strips you of some or all of your rights to sue should something go wrong. You are agreeing to go through an "arbitrator" and forfeiting any chance to a trial by jury. I'm not a lawyer and this is my understanding of it.
I have not seen one credit card app lately that does not have the arbitration statement in it. Maybe some here could let us know what cc's don't have it in their contract. Arbitration is bad, you hardly ever can win again NAF should you default on your cc.
