This seems to have been asked before: http://stackoverflow.com/questions/1402547/rails-decimal-precision-and-scale
But when running a change_column migration for :precision or :scale they don't actually affect the schema or database, but db:migrate runs without errors.
My migration file looks like this:
class ChangePrecisionAndScaleOfPaybackPeriodInTags < ActiveRecord::Migration
  def self.up
    change_column :tags, :payback_period, :decimal, { :scale => 3, :precision => 10 }
  end
  def self.down
    change_column :tags, :payback_period, :decimal
  end
end
But my schema (and the data) remains as:
t.decimal  "rate"  # previous column
t.decimal  "payback_period"
t.string   "component_type"  # next column
Anybody else have this issue?
Thanks,
Josh