Generally, yes, a credit card company can change the terms on a credit card account (this also includes personal lines of credit and home equity lines of credit) at its discretion as long as the bank notifies you at least 15 days in advance.

However, the 15-day timing requirement does not apply if:

1. The consumer has agreed to the change.

2. The change is due to a consumer’s delinquency (late payment) or default (going over the limit).

In both these instances, the bank must provide some notice prior to the effective date of the change, but there is no 15-day rule. Be sure to review your Account Agreement, which is the contract governing your credit card account. It provides information on changes that may occur to an account.