The credit organizations are honestly struggling presently and because of this are passing down their problems on to the everyday consumer. They are minimizing credit limits, raising interest rates, and holding back on issuing credit all together. This is making a gigantic problem for all of us who handle credit cards and utilize them on a daily basis. I feel as if my credit cards are becoming larger and larger each time I go to spend them because of the infinite rising APR. Even if I had the desire to do a balance transfer, I can’t because the remaining banks offering reduced rates aren’t issuing them currently. So I’m trapped charging the cards I’m already used to depending on, at a high APR. It’s closing in on the point that I may need to let the debts go past due and retain a debt relief company to negotiate the accounts. I was good paying on the cards before this economic meltdown, before the banks were putting a financial noose around my neck.
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