Require credit card companies to notify promotional interest changes in advance.

As per the Credit Card Accountability, Responsibility and Disclosure Act, banks must give customers 45-day notice of changes to terms of their cards, including interest rate increases. However, most banks do not follow this rule for introductory promotional rates. These rates typical increase after a period of 12-, 15- or 18- months. Credit card companies notify customers of these terms when the account is opened. However, there is no notification closer to the actual date of interest rate increase. Since the rate increase is part of the original account terms, this practice adheres to the word of the law. However, it is against the spirit of the law. Please require banks to notify customers of promotional interest rate increase within 30-45 days of the actual date of the increase.