When I worked at the Fed, I remember proofing a number of articles about credit cards and their policies and whether people read the information that came in their statements, so it's interesting to hear about this.

Oh man, the Fed comments display everyone's full names and addresses. Somebody really slipped up there.

or just don't use them or pay them off every month

During the Carter administration, the interest rates went up to 18%, while the credit card companies were charging only 5%. The credit card companies complained to the government and they were allowed to charge more interest and were given a free ride ever since. Why is it that nobody complains that the credit card companies' interests are not going along with the interest rates at the present time? I think we should all start complaining and writing to our representatives so the abuse by the credit card companies stops.

I agree with Tim to stop using CC's ,however, easier said then done in crunch. Look, we are in unprecedented times when it comes to corruption and usury in the financial world. Wall Street basically screwed everyone and then held the government/taxpayer for ransom. We bailed these suckers out and now they are RAISING interest rates, cutting credit lines. This company, sorry, COUNTRY , runs on credit and without it we would not be able to function. Please tell me how when the median individual gross income in this country is 42K, and avg take home is 65% of that with a median home price is 2-300K?? How do we pay for this now?? Answer is credit. Maybe capitalism is not the say all do all system. Maybe Martin Luther King had it right when he said suggested something along the lines of a capitalism / communism hybrid is closer to the mark for personal and collective human achievement. (off course he put it more eloquently than me here). I personally feel we should let the financial system crash and burn and die. This will serve to allow something better to emerge form the ashes.