Timeline for Is it legal for credit card companies to terminate a credit card?
Current License: CC BY-SA 4.0
3 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jan 4 at 22:50 | comment | added | CeePlusPlus | Just clarifying @phoog for laymen: Any purchases already made are subject to the same conditions/interest rates as they would otherwise be. The issuer can just decide to discontinue allowing new purchases. | |
| Jan 4 at 12:13 | comment | added | phoog | "is entitled to change its mind": subject to the terms of the credit agreement. Of course, the agreement having been drafted by the issuer, it won't likely restrict the issuer unnecessarily. (There are surely also restrictions imposed by statute; for example, I assume that they cannot terminate the card solely for reasons of race, religion, and similar protected characteristics, but this sort of thing seems to be beyond the scope of the question.) | |
| Jan 4 at 5:54 | history | answered | ohwilleke | CC BY-SA 4.0 |