The Small Print Project                            

A collaborative document of experiences with agreements in the digital age.

October 29, 2006

Unilateral Renegotiation? Priceless

Posted to TOS by Andy Sternberg




Nick Napoli submitted:

Product: CitiBank MasterCharge credit card

Lowpoints: I have a Citibank MasterCharge card. I’ve had an account since 1989. Periodically, Citibank will send me a notice telling me that they are changing my “agreement” unilaterally. This usually entails an increase in my APR and/or an increase in late fees, etc.

Whenever they pull this, I call them up and say that not only do I refuse their new terms, I will cancel my card if they do not lower my interest rate. They invariably do.

Highpoints: Nothing. It’s an annoying waste of my time to have to “renegotiate” terms that I’ve already agreed to and have no intention of amending.

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* Comments(1)

  • http://en.wikipedia.org/wiki/User:JesseW Jesse Weinstein

    Hm. It would be interesting to try this with various other EULAs that try and change their terms after they have been agreed to. Of course, that would require keeping a copy of the old version, to refer to, and most people don’t do that…