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Can the bank close my account, lower my credit limit or increase the interest rate?

April 26, 2017account Bank credit increase Interest rate limit lower

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Can the bank close my account, lower my credit limit or increase the interest rate?

1 Answer

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The right of a bank to manage the account relationship is a contractual agreement between the bank and the cardholder. However, this information must be detailed in your Cardmember agreement. If you do not have a copy or can not locate the agreement, contact your institution for a copy. If you have additional questions, you may contact the FDIC Consumer Affairs branch at 1-877-275-3342.