This Part has rules that apply to licensees that are credit providers under credit card contracts. It applies in addition to the general rules in Part   3 - 2.

Division   2 defines key concepts used in this Part (including credit card contract and credit card).

Division   3 imposes requirements aimed at ensuring a consumer obtains a Key Facts Sheet before entering into a credit card contract.

Division   4 imposes restrictions on a licensee making offers etc. to increase the credit limit of a credit card contract, and imposes requirements aimed at ensuring the consumer can reduce the credit limit of a credit card contract.

Division   5 provides for consumers to be notified if a credit card is used in excess of its credit limit, and restricts the charging of fees etc. for use of a credit card in excess of its credit limit.

Division   6 imposes requirements relating to the order of application of payments made under credit card contracts. Generally, a payment must be applied against higher interest rate debts first.

Division   7 imposes requirements relating to application of interest charges under credit card contracts.

Division   8 imposes requirements aimed at ensuring the consumer can terminate a credit card contract.