Does anyone have a credit card whose rate has recently "shot up"? did you get notice? I got a 3 day notice that mine went up 8%. No way I can pay it off. I owe too much!! anyone else in that position.
by 
Scrappy
ANSWERS: 2
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If you owe a lot on this card then you are in a real chrisis situation. The first thing you need to do is put that card away and stop using it. Get away from credit cards. I had to get some help one time. I learned a lot from Dave Ramsey. Go to daveramsey.com and get your finances in order and you will have financial peace like I do. If you don't learn to manage your money then the lack of it will always manage you.
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The rate for most variable rate credit cards is usually adjusted every 3 months and is tied to some standard interest that gets posted. Your credit card company should be able to tell you what your rate is based on and then you can watch that rate and not be surprised next time. I'm betting that rates will continue to go up in the near future, given all the financial crap that's going on right now.
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