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Q.

The Nest Q&A

My credit card rate recently increased. Why, and how can I get a lower rate?

A.

Credit card companies are now required to give 45 days’ notice on rate hikes (but they can still raise ‘em). But come February, no increases will be allowed on exisiting balances unless you’re 60+ days late on payments or your contract says otherwise. Tip: Call your credit card company and ask them to reinstate your previous rate or you’re taking your biz elsewhere. I’ve had rates cut by more than half just for having a solid payment history. It’s worth a call!