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Do credit cards have to give 15 days notice before raising your rates?

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    Do credit cards have to give 15 days notice before raising your rates?

    Can they raise it without notice?

    #2
    They can do just about anything they want (read the fine print on your contract you signed)........

    Will they give you notice???? NO....... don't have too......

    If you are late on another cc payment, they can raise your rates, etc......
    Minny

    "It's amazing the paths that our feet sometimes follow in life".

    My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

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      #3
      I think by law they are supposed to unless you have defaulted somewhere...

      ...but there is no stipulation on how they do it. If they are just changing the terms for no particular reason then by law they are required to notify you & give you the option to opt out (which if you do opt out then your account will automatically close out when your card expires, or if you pay an annual fee, it will close out then on the renewal date). This "notification" will usually be sent as a little insert in your statement that you will most likely never read because "who looks at those things anyway". But if you've defaulted in any way shape or form either with them or a different creditor, then no, they are not required to send notice because you were already aware of this stipulation in the "original card agreement".
      We can plan our lives but we can never plan the outcome.

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        #4
        No.

        They can raise your rates (to a limit) on any reason they want that was included in the fine print.

        vote with your feet - and cancel the card. If everyone started doing that - they'd change their practices. There's always soeone else you can get a cc with.

        r
        Filed: 05/04/06 (los angeles)
        341: 06/05/06
        Discharged: 8/29/06
        Closed: 9/08/06

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          #5
          While sometimes it seems it's all on a whim, it's buried deep down in that fine print somewhere!
          *** THIS IS NOT LEGAL ADVICE--ONLY A LAWYER CAN PROVIDE THAT. ***

          My posts represent hours of research on and off the web, these forums, my experience, and my opinions.

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