When the banks that issue credit cards knew the government was changing banking regulations; they raised credit card rates. This made paying the debt off in a reasonable time frame nearly impossible for the work force. They also raised credit limits to insure indebtidness. Then the economy faltered! While the banks were "Bailed Out"... the work force now had no jobs, or income. We are still trying to pay off that debt while the banking industry relishes. Congress needs to roll back interest rates in accord with the cost of living, and the job rate so Americans can pay off that debt. Limiting interest rates on credit cards to no more than three times the Federal Reserve rates on mortgages.
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