Quote:
Originally Posted by kork13
Most companies that I've heard of are letting people keep their previous interest rate, but they can't charge anything to it anymore, and must pay it down until paid off, at which time the account is closed.
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This is how the recent opt-out notices I received read as well. I pay under the current terms until paid off, then the account is closed. One of those accounts is under an intro rate. It will revert to a purchase rate as specified in the original intro offer, then will continue with that rate until paid off, then the account gets closed.