The link to the whole story is below, but, given the proclivity of CC issuers to raise rates out of the blue currently, the bit below is the important part since the cards certainly don't make this obvious:
If you carry a balance and your issuer lobs a rate hike on that balance, you can opt-out by either calling the credit-card issuer or sending a letter. Hardekopf recommends sending a letter certified mail for record-keeping purposes.
By opting-out, you agree to pay off the balance owed at your current rate. Often, opting out means you stop charging new purchases on the card. But in Citigroup's recent rate-hike announcement, the company said cardholders could opt out of the higher rate yet still continue to make purchases at the lower rate until the card's expiration date.
Those sneaky gits!
Oh, and, happy Thanksgiving! Not such a big deal over here, as you can imagine, which is sad - it's my favorite [u omitted for appropriate context] holiday.
Shaun H. Coley
Shadwell, Tower Hamlets
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