• Contact your lender immediately and determine why the lender feels you're a greater credit risk...and then fix it, if it's fixable. It could be as simple as giving them updated income information.

  • If the lender's answers don't sit well with you, begin interviewing new lenders. Call and request credit card applications. To determine if a credit card lender uses universal review, do this: go to the disclosure form and find the headline "Other APRs," then look for the term "default rate." That should tell you what you need to know. And if you're comparing credit cards you already have, and cannot locate the original application you signed...call each lender and ask them for a copy of your application with your current account's terms and disclosures. You need to know your current terms, as they may not be the same as the original offer you received.

  • After you have compiled your list and found a lender that will give you acceptable terms and rates, contact your original lender and tell them you are considering closing the account.


  • Remember, before you begin this cat & mouse game, have a "Plan B" in place. Just make sure "Plan B" doesn't use the same or worse practices as your original lender.

    Just be aware of card tricks. Not all lenders use them (thank God), but be careful of the ones that do. Lenders have lowered the bar on their ethics. It's up to us to read the fine print and play their game.