So you’ve heard about Apple’s new credit card, and you want to give it a try. Before you sign on the dotted line, there is at least one aspect of Apple’s agreement (besides any fees and percentage rates) that you’ll want to pay attention to: the arbitration clause.
Arbitration clauses have become extremely popular in agreements between companies and consumers — and for good reason. When you agree to arbitration, you are basically putting most of the advantages in the company’s court. For example, most arbitration clauses deny you the opportunity to become part of a class action suit or to individually sue the company. Instead, an arbitrator (often chosen by the company) reviews the case and then makes a ruling that cannot be appealed.
In…tech, The Verge, The Verge - All Posts