Credit Cards Boosting Fees

Although issuers have the right to change the terms and conditions of customers' cards at any time, they will usually notify you in advance and give you the chance to opt out of any changes. To do so, you will typically have to call a number or send a letter to the company by a certain date. In many cases, customers will be able to pay off any balances under existing terms, although you may be forced to close the accounts.A number of lenders are tightening their credit standards and raising fees given concerns over a slowing economy and a changing interest-rate environment. Many lenders, for example, are becoming more cautious about extending credit to people in weaker housing markets and to people who hold certain riskier mortgages