Q: Why does my credit card agreement require me to settle any disputes through arbitration instead of a lawsuit?
A: Credit card issuers have been plagued by class-action lawsuits that made some trial lawyers very rich while tossing a few dollars, if any, to each affected cardholder. Besides saving the cost of these lawsuits, card issuers are aware that it is unlikely you will go to the time and expense of arbitrating a dispute over a late fee or a higher interest rate.
