Common use of CHANGE OF TERMS Clause in Contracts

CHANGE OF TERMS. Provided the Account is meeting the terms of this Agreement: (1) We will not increase an Introductory APR during any Introductory Rate period; and (2) We will not increase any APR, Annual Fee or minimum Interest Charge for 12 months following account opening, except for increases due to the expiration of an Introductory or Promotional Rate period, if any; changes in the Prime Rate; completion or failure of a temporary hardship arrangement; application of a Penalty Rate; or the end of military service to which the provisions of the Servicemembers Civil Relief Act (SCRA) apply. (“Exceptions”). Otherwise, we may change the terms of the Agreement at any time, after notice and the right to reject if required by law. Changes in any APR, other than the stated Exceptions, Annual Fee or minimum Interest Charge will apply to new transactions created after the end of the 14th day following our providing notice to you. If you reject a change, your Account will be cancelled and you will no longer be able to use the Account. Cancellation of your Account will not affect your liability to us for credit we have extended to you, including amounts not yet billed to your Account.