What happens if you reject new credit card terms?
I've alway been curious about what happens if you reject the new credit card terms that come in your monthly statement. I read somewhere you can reject the terms, but was wondering what the credit card company does after that. Can they call the entire balance on your credit card due immediately?
Hopefully you saved a copy of your last set of terms and conditions your credit card issuer mailed you because that is where you will find the answer to your question. Generally speaking, the CC issuer doesn't call the debt due if you are paying on time. However, that is not a guarantee so read your T&C.
Thanks sandalwood, I was wondering about that. The thing I hate about the card companies is the new terms seem to always come in a brochure with type so small it's virtually impossible to read. I've ask the card company about this practice and they told me it was to save money on paper and printing cost. Call me cynical but I wonder if there's an alternate explaination. More like they really don't want you to be able to read the new terms.
MHJ
Rep Points: 350
I get those notices all the time but the actual changes always come off as being relatively minor.