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I just received a notice saying that the rate on my credit card account is going to increase in 45 days. Can I continue making purchases with my card at the existing rate for 45 days?

No, you will not be able to continue using your card for transactions at the existing rate for the entire 45-day period. The existing rate will apply to transactions that occur 14 days or less from the date the bank provided you the notice. After 14 days, the new rate will apply to further transactions that are not paid off at the end of the 45-day period. At the end of the 45-day period, the bank can begin charging the new rate for any balances you accrued after the 14th day after the bank sent the notice.

Please note that if your rate is increasing because you were more than 60 days late in making a required payment, the bank can apply the new rate to all your balances.

Review your account agreement for policies specific to your bank and your account.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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