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Can my credit card company increase the fixed rate on my MasterCard?

Last Updated: February 03, 2012

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Before August 2009, credit card companies could change the terms of a credit card at any time with 15 days' notice. Effective August 2009, credit card issuers must provide 45 days' notice before increasing interest rates and fees. In addition, effective February 2010, contract terms must be stable for a one-year period beginning when the account is opened.

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