Yes, in many instances, your credit card company can raise your rates. In the fine print of your credit card agreement, you may find a few reasons why your credit card company may raise your rates, such as:
Your promotional rate period has ended
You have been making late payments
The prime rate has increased
You've had the card for over a year
Your credit rating has decreased
Many financial advisors recommend that you pay off your balance and get a new lower-rate credit card if your rate is increased. Or, you can transfer your balance to a lower-rate card to avoid paying the higher rate.