Credit card interest rate hikes - from when could you start rejecting rate increases?

bella_londres

Hi all
I would be grateful if you could let me know from when banks started to allow consumers to reject credit card interest hikes (and therefore most likely meaning the account was closed with the balance to be paid off on previous interest rate)?
Thanks

[Deleted User]

1 Jan 2011.

david39

........ but you have a very limited length of time to make that rejection - possibly 14 days - certainly less than a month.

[Deleted User]

You have 60 days from notification to reject.

Fruit_and_Nut_Case

david39 wrote: »

........ but you have a very limited length of time to make that rejection - possibly 14 days - certainly less than a month.

Sorry but this is wrong.

Deleted_User wrote: »

You have 60 days from notification to reject.

This is correct.

bella_londres

I believe the date was in 2009 maybe even 2008 after some legislation was voted for end of 2008. At that time it wasn't 60 days, but from 1 jan 2011 it was.