Rate hike reversal with on-time payments5 of 7The CARD Act permits card issuers to raise your interest rate if your account becomes 60 days delinquent. Yet the law includes a reward for good behavior. Pay your bill on time for the next six billing cycles and the rate increase must be terminated.« Back to Credit Card Rules. Related Articles:Fees your card can raiseNo help for business cardsCan you co-sign for card?Related Links:CARD Act limits penaltiesCARD Act 'gotchas'Credit card billing changes advertisement
The CARD Act permits card issuers to raise your interest rate if your account becomes 60 days delinquent. Yet the law includes a reward for good behavior. Pay your bill on time for the next six billing cycles and the rate increase must be terminated.
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A little research could save you BIG on interest.