How many times have you tossed notices from your credit card issuer without reading them? The best answer is "never." You could be discarding a credit card interest rate increase notice.
Credit cards can change annual percentage rates (APRs) under various circumstances dictated in the terms and conditions of your credit card agreement (another document that you might have tossed).
Generally, the card issuer is required to provide notice of a rate change 45 days in advance, so you have at least one billing cycle to pay down your balance or consider alternatives. However, you should know that you don't always receive explicit notice of an impending credit card rate increase.
When you incur a penalty APR from actions like missed payments, the effect is immediate because the terms were already spelled out in your card issuer's terms and conditions (along with how ...
from MoneyTips https://www.moneytips.com/received-a-credit-card-rate-increase-notice
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