Change of Credit Card Terms

There are some people that assume that their rates won't change and that terms won't go against them. Recently some credit cards have raised the minimum amount percentage by a percentage point or more. It can hurt those that are stretched to the maximum breaking point. Many credit card borrowers are outraged when things are changed. You are signing to the terms promised at the time of offering. You are also signing a statement that says the issuer can change the terms anytime it wants to.

Most credit cards are only required to give you a sixteen day notice in the change of terms. What can you do if your terms are changed? The purchase is acceptance of the terms. You are blindly agreeing to new terms. Chances are that the terms will not be changing to benefit you. The fees are rising. Including what the rates and fees are. You are taking a huge risk by taking on a debt that is out of your control.

Check your statements to see that you are being charged the correct rates. There are many reasons that card companies will give you for changing your rate. You are eliminating any missed payments. If you see that there is trouble in your future take action right away.