Student credit cards How to get started
For example, if your credit rating worsens and your card issuer decides to raise your interest rate, the raise applies only to any new charges you make. The older, lower interest rate still applies to your existing balance. Credit card issuers can raise interest rates on your entire balance only if you are 60 days or more overdue with your payment. * The credit card company must apply your payments to the parts of your balance with the highest interest rates first. Right now, credit card companies decide which part of your balance they will allow you to pay off first.