So the reward I get for busting my ass to make sure I can pay my credit card every month is to go from 14% intrest rate to a 29.99% interest rate. Give me a break. I might as well stop paying all together and use that money to pay off my mortgage. At least I will have a house to live in. I can't believe that the government is allowing this to happen. The credit card companies are gonna screw us (sorry for the language) as much as they possibly can between now and whenever the new credit card laws go into effect in 2010!

Its like the credit card companies don't want my business. How can they just arbitrary make such drastic changes. My payment was always on time, I rarely carried a balance. I canceled this card. I would rather have a slightly lower credit score than deal with these crooks any longer.

Where is the government on this, we give the banks all this bailout money and they still try to up their profits. Its a never ending system of screw the consumer.

i want my prize to be sent in western union money.

Will the credit card industry find ways to gauge us? It seems like where there's a will there's a way. Let's try to make some predictions and see which ones come true, if any: 1) Credit card caps will be close to 40% instead of the 15%; 2) New fees that have never been charged will be devised to make up for the losses; 3) General use gift cards might be a way to get more money and get around the rules; 4) The credit card companies will work together to cancel any of us who pays off the bill monthly or who pays off a balance; and 5) New fine print will be added to renewals via billing inserts or on the bills themselves. One way or another, they will get creative enough to cause total chaos for us.

My guess is that we should consider the smaller banks and credit unions ----at least look into the differences as to how they operate compared with the major banks. With so many mergers, there's much less competition & the need for much more creative money-making thinking for the major banking institutions.

Please report on any truths that emerge from my guesses and/or report on newly created ways to make money that you find. The names of the credit cards would be very helpful. Let us know of some really fair deals too.

UCAN staff was informed by a personal banker, an investment broker and by a CPA firm that until the economy is more stable and job losses are not so massive, that we should be paying the minimum on credit cards and putting the extra we would have paid into an IRA type account where no one can ever touch it in case job loss occurs. This advice was specifically for salaried people. A UCAN staff person was further advised that there is a strong possibility that if credit card balances are paid off, the credit card companies would cancel those cards.

After UCAN was given this advice, the alleged guru of financial planning named Susie Orman gave the same advice on Night Line. Any of you who are aware of other protected savings plans are encouraged to post the information for the benefit of others.