Can I file suit against my credit card issuer for raising my interest rate in "bad faith"?

Asked over 5 years ago - Los Angeles, CA

My credit card issuer raised my interest rate by nearly 10%. I have not been late or over my credit limit. I believe they acted in bad faith in light of pending credit card regulations. The issuer claims to have sent a notice in the change of terms which included an opt-out if I did not agree to the new rate. I never received such a notice and I've found dozens, if not hundreds, online who also say they never received such a notice from the same issuer. All I want is my interest rate back to it's previous level, nothing more. I feel, however, using the bad faith standard in contract law is a reasonable assertion and possibly a basis for a class action suit. Thank you for your time.

Attorney answers (1)

  1. Robin Mashal

    Contributor Level 19

    1

    Lawyer agrees

    Answered . Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.

    If they in fact raised your interest rates without any proper cause, the credit card company may be subject to liability. Feel free to call our office for a free consultation.

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