Low-interest credit card offers are extremely attractive.  In fact, with the economy in its current state, people are flocking to extremely attractive APR offers, perks be damned!

One big problem with credit cards is the fact that issuers reserve the right to change your terms and conditions at any time.  Among other things, that includes your monthly rate and annual fees.

Think you have no problem since you signed up for a “guaranteed permanent rates” credit card?  Think again, since nothing legally binds these companies at the moment from raising your interest rates through the roof - no matter how many guarantees they gave you in their promotional materials.

If you suddenly experience something similar, always call up your bank to complain.  In some cases, that could work pretty well.  Chances are, however, that they’ll just give you the run-around and pile on the increases anyway.

In fact, with banks wary of current economic conditions, consumers are starting to see a lot of this now.  Almost every single day that I read finance news and blogs, I come across a story of a certain person complaining about a certain credit card from a certain issuer that suddenly raised interest rates without warning.  Every now and then, I’ll come across a story of some people suing their credit card companies, although I don’t think there’s really much they can do with the current laws in place.