Best credit cards, a review of the topic
This change also makes it easier to pay your student credit cards on time. * Consumers will be able to opt out of fee hikes and interest rate increases at their discretion. If they opt out, their account is canceled, but they are allowed to pay off the balance under the better terms they had before opting out. For instance, if your issuer hikes your interest rate from 11% to 15%, you may refuse the increase, close your account, and pay off your balance at the 11% rate. Some credit card companies already offer this option at their discretion.