Can my credit card company change the interest rate on my account?
Yes they can. Credit cards often use the term "fixed rate" to describe the interest rate but that is a misnomer. The Truth in Lending Act and Regulation Z allow that the interest rate, even a "fixed rate" card, can be adjusted. An advance notice of 15 days is all that is required. Rates may change for any number of reasons including the fact that the prime rate has risen, the lender sold the credit card portfolio to another lender or the customer has done something triggering an increase such as being delinquent with the card issuer or another lender, or their credit report reflects an unfavorable trend the creditor monitors.
When you have an increase in your rate, ask the creditor about it and check your original agreement. Also, sometimes the creditor will be quick to increase a rate, but will decrease it some months later, but only upon request.
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Yes they can. Credit cards often use the term "fixed rate" to describe the interest rate but that is a misnomer. The 