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How often can the bank change the rate on my credit card account?

It depends on whether your account has a variable rate.

If your credit card account has a variable rate, the credit card rate is tied to an index. This index rate can change periodically. The bank can change your interest rate periodically when the index changes. Your account agreement explains when the bank can make changes to your variable rate.

If your account has a fixed rate, the bank can still change your rate, but there are limits on when it may do so and notice requirements:

  • The bank generally cannot change your rate during the first year after the account was opened.
  • After the first year, the bank can change your rate, but it has to give you 45 days’ notice in writing before the change takes effect.

In addition, the new rate will only apply to the remaining balances of transactions that occurred more than 14 days after the notice was provided.

There are exceptions to these general rules about fixed rate accounts. The bank can increase the rate that applies to both your existing balances and new transactions without prior notice

  • if you agreed to an introductory rate that ends after at least six months, or
  • if you are more than 60 days late in making a required payment.

Review your account agreement for policies specific to your bank and your account.

Refer to 12 CFR 1026 "Truth in Lending (Regulation Z)" for more information.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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