socialmedian: Ask the Dolans: Can my credit card company change the terms on account I have closed?

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Ask the Dolans: Can my credit card company change the terms on account I have closed?

Source: WalletPop Blog

Nov 06, 2009

Summary

Filed under: Credit, Debt, The Dolans, Video, Credit cards

Ken and Daria Dolan, America's first family of personal finance, answer your questions every Friday.

Click here to ask Ken and Daria your question

Credit card companies are on a tear, raising rates, slashing credit lines, increasing minimum payments and closing accounts in advance of the new credit card legislation that will restrict their more outrageous behavior. Today, Ken and Daria Dolan of Dolans.com help a WalletPop reader decide if she has any recourse against her credit card company's latest trick.

Dear Ken and Daria,

We got a letter from our credit card saying they were changing the terms on our card. We still have a balance on the card, but we opted out and closed the account. They STILL upped the minimum payment required on our balance. Can they do that?

You'll find simple, proven solutions for managing your credit card debt at Dolans.com.

Ask the Dolans: Can my credit card company change the terms on account I have closed? originally appeared on WalletPop Blog on Fri, 06 Nov 2009 10:00:00 E

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