Yep, however you might wanna make sure and wait for someone else to confirm this as I am on the fence. Better yet, why don't you call the Discover Card guys because they can give you help better...

Actually, it's a question I am answering for a law class. Interestingly enough, everything I read from FDIC and the Federal Deposit websites say that initial disclosure must contain everything including other costs in a clear and understandable way..

But, I realize how cc's can be so confusing...

It depends on the rest of T&C. If T&C says they can re-evaluate and change T&C based on their needs and/or credit risk analysis on your credit file, I don't see it being a violation...

But then they'd have to notify you in accordance with the law....which didn't happen in the example..

Aha! So according to you all, they can only do this if they put it in the original terms and conditions. If they can reevaluate your account as provided by law,and as stated in the T & C, then there is no violation..

Now does this T & C mean the same thing as the initial disclosure?..

No...Terms and Conditions can change...with the proper notice (which is why if they notify you appropriately they could do what the example said)... without proper notification, they can't charge that fee.

The initial disclosure can't change.....

Best buy.

Don't know if they " can" do it but Best Buy did do it to me. Had to cancel it immediately then argue with them again 30 days later when the bill arrived...

I canceled a card a few years ago for similar reasons. Their initial terms and conditions stated something along the lines of:.

"we reserve the right to change terms and conditions at any time. We will post these changes on our website. Activation of your card indicates your understanding and agreement to delivery of changes via our website only and that we are neither expected or required to send you notice of individual changes.".

I missed the online disclosure and ended up fighting them over an annual fee that I saw when I logged in to pay my bill. I am fairly sure that XM satellite radio still does this in their disclosures..

This post has been edited by.

Jtoast.

: 03 December 2009 - 03:20 PM..

"IF" YOU DON'T QUALIFY FOR XXXXXXXXXXXXXX ($0.00 FEE).

We will try to approve you for XXXXXXXXXXXXXXX ($49.00 FEE)...or what ever price.

FINE PRINT..

YOU DON'T HAVE TO PAY.

Just close the account and demand a credit refund..

Ok. Now I am rolling. So they can change the terms and conditions as long as they notify you..

This started out as a question for a class. But, I got a Best Buy card in August to purchase a computer with no interest..

I am shaking in my shoes at the fact that they could change the original agreement, or T&C as long as they claim they notified me!.

Good grief. The more I study this case I am working on, the more fearful I get!!!.

It seems that no matter what agreement I signed, it can change without my permission. I can understand where the credit companies stand with that, but, holy cow, what an impact this can have..

I am off to do more research. Thanks so much for all of you who answered. You gave me insignt and direction for my project..

I will continue to monitor this page for any additional comments. Please do leave any comment..

Thank you, thank you thank you!..

If they start charging an AF- you can opt out...

I also find troubling that, to my understanding, the Discover credit card can always say "our records show we mailed you the notice on" whatever day they feel like stating, and you can't just say "my records show that I did not receive your notice". Their records are gospel, yours are crap. They can mail by regular mail, and you have to certify everything. I would love to be corrected in my understanding, though...

Which disclosures are you speaking of:.

A) The ones you saw when you applied.

The ones that came with your card.

Because usualy, a lot of banks will have different Tiers and sometimes you may not be able to get the first tier which has a $0 fee but another tier may have a fee. This is usualy always explained online...