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    sonoma70's Avatar
    sonoma70 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 29, 2009, 11:17 AM
    Credit Card Changed Promotional Rate
    About a year ago I transferred money to a chase credit card with a promotional rate of 4.9% until it is paid off. Now the credit card company is changing the rules, they are keeping the 4.9% rate, but adding a $10 a month charge to keep that rate and they are making me pay 5% of what I owe each month as a minimum. When I called they said I could opt out of that promotion and switch to a 7.9% rate, and then they would drop the $10 monthly charge and I would only have to pay 2% of what I owe.

    Can they change the promotion like that? Is this legal?
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
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    #2

    Jan 29, 2009, 03:21 PM

    Does it say anywhere in the contract that rates can be changed if given notice? Most of them will.
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