I am drawing a total blank--

If you reserve the right to change terms on a non-home secured line of credit, is the APR change only effective on new transactions? Is the existing balance prior to the change in terms considered a protected balance and subject to the rate that was in effect when the advance was taken?

Thanks in advance!

What did the contract (note and security agreement) say? That would govern.

State law could also be a consideration.

It depends on the definition of a credit card account in 1026.2(a)(15) and the above. Just being a non-home secured line of credit may not be good enough.

Original anon here:

The contract and state law allow it.

This is a personal line of credit product. No access device-- just a revolving line of credit that the customer may takes advances from by contacting the institution or completing an advance online. It cannot be used to purchase goods or services.