# Credit Card Interest Rate

**URL:** <https://boards.straightdope.com/t/credit-card-interest-rate/172278>\
**Category:** Factual Questions\
**Created:** [May 1, 2003, 2:09am UTC](https://boards.straightdope.com/t/credit-card-interest-rate/172278 "2003-05-01T02:09:13Z")\
**Posts on this page:** 5\
**Page:** 1

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**Author:** ![johnjdopey](https://avatars.discourse-cdn.com/v4/letter/j/aeb1de/32.png) [@johnjdopey](https://boards.straightdope.com/u/johnjdopey)\
**Post date:** [May 1, 2003, 2:09am UTC](https://boards.straightdope.com/t/credit-card-interest-rate/172278/1 "2003-05-01T02:09:13Z")

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I got a letter from my credit card company with my monthly statement that said they are increasing my credit card rate-unless I respond in writing within 30 days saying I don’t agree to the increase. If I don’t agree to the increase, then I can’t use the credit card anymore.

If I write them back a letter saying that I am decreasing the interest rate to 0% unless they respond in writing within 30 days,do you think I could enforce my proposed terms?

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**Author:** ![Philster](https://avatars.discourse-cdn.com/v4/letter/p/13edae/32.png) [@Philster](https://boards.straightdope.com/u/Philster)\
**Post date:** [May 1, 2003, 2:11am UTC](https://boards.straightdope.com/t/credit-card-interest-rate/172278/2 "2003-05-01T02:11:59Z")

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Find another card - you don’t have a leg to stand on.

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**Author:** ![Ms2001](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/ms2001/32/18463_2.png) [@Ms2001](https://boards.straightdope.com/u/Ms2001)\
**Post date:** [May 1, 2003, 2:13am UTC](https://boards.straightdope.com/t/credit-card-interest-rate/172278/3 "2003-05-01T02:13:21Z")

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Call them and say you want to cancel because the rate is too high. If their customer service is any good, they’ll offer you better terms to keep your account.

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**Author:** ![johnjdopey](https://avatars.discourse-cdn.com/v4/letter/j/aeb1de/32.png) [@johnjdopey](https://boards.straightdope.com/u/johnjdopey)\
**Post date:** [May 1, 2003, 2:25am UTC](https://boards.straightdope.com/t/credit-card-interest-rate/172278/4 "2003-05-01T02:25:04Z")

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I actually don’t care about the increase.

I’m just wondering why I couldn’t unilaterally change the terms of our agreement like they are attempting to do.

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**Author:** ![friedo](https://avatars.discourse-cdn.com/v4/letter/f/8edcca/32.png) [@friedo](https://boards.straightdope.com/u/friedo)\
**Post date:** [May 1, 2003, 2:34am UTC](https://boards.straightdope.com/t/credit-card-interest-rate/172278/5 "2003-05-01T02:34:14Z")

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> [@](#):
>
> \*Originally posted by johnjdopey \*  
> I’m just wondering why I couldn’t unilaterally change the terms of our agreement like they are attempting to do.

Because the agreement you signed when you applied for the card gave them permission to unilaterally change the terms of the agreement, provided they notify you.