Common use of Revie of acquired portfolio Clause in Contracts

Revie of acquired portfolio. If, not later than six months after the acquisi- tion of such accounts, a card issuer re- views all of the credit card accounts it acquires in accordance with the factors that it currently considers in deter- mining the rates applicable to its simi- lar new credit card accounts: (i) Except as provided in paragraph (g)(2)(iii), the card issuer is required to conduct reviews described in paragraph (a) of this section only for rate in- creases that are imposed as a result of its review under this paragraph. See §§ 226.9 and 226.55 for additional require- ments regarding rate increases on ac- quired accounts. (ii) Except as provided in paragraph (g)(2)(iii) of this section, the card issuer is not required to conduct re- views in accordance with paragraph (a) of this section for any rate increases made prior to the card issuer’s acquisi- tion of such accounts. (iii) If as a result of the card issuer’s review, an account is subject to, or continues to be subject to, an increased rate as a penalty, or due to the con- sumer’s delinquency or default, the re- quirements of paragraph (a) of this sec- tion apply.

Revie of acquired portfolio. If, not later than six months after the acquisi- tion of such accounts, a card issuer re- views all of the credit card accounts it acquires in accordance with the factors that it currently considers in deter- mining the rates applicable to its simi- lar new credit card accounts: (i) Except as provided in paragraph (g)(2)(iii), the card issuer is required to conduct reviews described in paragraph (a) of this section only for rate in- creases that are imposed as a result of its review under this paragraph. See §§ 226.9 1026.9 and 226.55 1026.55 for additional require- ments re- quirements regarding rate increases on ac- quired acquired accounts. (ii) Except as provided in paragraph (g)(2)(iii) of this section, the card issuer is not required to conduct re- views in accordance with paragraph (a) of this section for any rate increases made prior to the card issuer’s acquisi- tion of such accounts. (iii) If as a result of the card issuer’s review, an account is subject to, or continues to be subject to, an increased rate as a penalty, or due to the con- sumer’s delinquency or default, the re- quirements of paragraph (a) of this sec- tion apply.