Reply #9: They can do whatever the hell they want.

[Dr.Phool]

I had a Chase card at prime rate for over 10 years and was never late on a payment. I also had a mortgage for over 10 years, and again,ever late.

I got called out of town for 10 days on an emergency, and thought I had all the bills paid. I missed the Chase card, and when I returned I was 3 days late with the payment. They jacked my interest up to 29.9%. I called to complain, and they said the best they could give me was 27.9%. I said, "fuck off", and transfered the balance.

Credit card companies are the only entities in Amerika that can change the terms of a contract, at will, after the fact.