How to opt out of credit card rates.

• 1). Review your amended credit card agreement to find out how your credit card company handles the opt-out option. In some cases you can opt out online, or you can opt out by checking a box on your monthly statement and returning that with your regular payment.
  
  
• 2). Make your selection to opt out, and keep any records that pertain to your opt-out selection including a copy of the last statement you received and a printout of the opt out page if you had to opt out online.
  
  
• 3). Contact the bank and ask them what your monthly minimum payment will be after the 14-day waiting period is over for the opt-out option.
  
  
• 4). Cut up the credit card so you cannot use it again. According to CreditInfoCenter.com, if you use a card that you have opted out on after the 14-day waiting period, the bank can apply the new rate to your entire balance due.
  
  
• 5). Stay alert for future rate increase warnings and opt out of every rate increase for that card until you pay it off. According to Bankrate.com, the banks have to warn you 45 days prior to each rate increase and you have to opt out of each one to avoid the possibility of it affecting your current interest rate.