How to Reject Credit Card Terms
- 1). Write the credit card issuer notifying the company that you are opting out of the new changes. The Credit Card Act of 2009 makes the credit card company notify the credit card holder of any impending changes. The timeline for notification is 45 days to allow consumers to make the opt out decision. If you opt out of the changes, you will not be allowed to use the card again unless the new fees are enacted. Make sure to use the address included in the notification letter to you. It is usually a different address from the one you use to make a payment.
- 2). State pertinent account information on the letter. The letter needs to include the account information and the card holder's name. Include the credit card issuer's address as well as your own address for verification and future correspondence purposes. Explain in the letter that you received information regarding fee or term changes and state the date you were given to respond by. Clearly state that you are opting out of the changes and that you reject the interest rate increase if applicable. Explain that you intend to continue making payments to the previous balance under the former rates. You may also express in writing that you realize that if you do use the card, you understand you are subject to the new fees. To complete the letter, request that the company responds to your letter verifying acknowledgment of the agreement.
- 3). Send the letter certified, return receipt requested via the postal system. When a letter is sent certified, you will receive a signature card back from the post office verifying it was delivered. This protects you in case there is a dispute. Keep a copy of the letter you sent and the return receipt with your important paperwork.
Source...