New credit card issuers cannot raise the interest rate on an existing balance, but they can potentially raise the interest rate on new purchases if they provide 45 days' notice to the cardholder.
factualpending
Speaker
Casey BondEvidence Quote
“the new issuer cannot raise the interest rate on your existing balance but if you make new purchases on that card they could potentially raise the rate um however they do need to give you 45 days notice before that happens”
Created: 8/13/2026, 9:48:47 AM
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