1. A computer implemented method of modifying an existing account comprising the steps of: receiving, over an electronic network and at a time when the account may be used to complete purchases by the account holder, account identification information from an account holder, wherein the account identification information is entered by the account holder at a web page programmed to accept such information; sending over an electronic network and to the account holder at least a portion of the existing account terms at a time when the account may be used to complete purchases by the account holder; displaying the existing account terms on a web page viewable by the account holder; sending over an electronic network and to the account holder a plurality of new available account terms; and receiving over an electronic network and from the account holder a selection of at least one of the new available account terms.