Facts

• Most credit card agreements contain a clause stating that interest rates are at the sole discretion of the credit card issuer and may change at any time. By signing the contract, you agree to the terms the company sets for your account.
  
  

Time Frame

• Your credit card company must provide you 45 days' notice before raising your interest rate.
  
  

Features

• A credit card provider might raise the interest rate because of threatening economic conditions that are no fault of the consumer.
  
  

Considerations

• You have the right to reject an interest rate increase and pay off your card balance under your original interest rate if you agree to cancel your credit card.
  
  

Warning

• Credit card companies regularly monitor your credit report. If you make a late payment to any other creditor, your risk of default on your credit card increases, and your credit card issuer might respond by raising your interest rate.