Released: November 14, 2018

Help Desk FAQ

Will I be notified when the rates, fees or other terms of my credit card agreement change?

Card companies must send a “change of terms” notice to cardholders 45 days before increasing the interest rate, changing certain fees (such as annual, late and cash advance) or making other significant changes to the terms of the card.

The company does not have to provide a 45-day notice of a rate increase if you have a variable interest rate and the index to which the rate is tied goes up; your introductory rate expires and reverts to the previously disclosed “go-to” rate; or your rate goes up because you have not made agreed-upon payments as part of a workout agreement.