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Look out for higher interest rates on your credit cards

10:49 AM CST on Monday, November 10, 2008

By Rosa Flores / 11 News

Video
11 News video
Nov. 11, 2008

HOUSTON—Many people are seeing their credit card interest rates skyrocket.

It’s proven to be yet another obstacle for consumers stuck in the money crunch.

If you notice that your interest rate has jumped, call your credit card representative and try to negotiate a lower rate.

If you get any of those blank checks from the credit card company in the mail, be careful. A lot of those checks had a 3 percent fee in the past, but that may be higher now.  You need to read the fine print.

Also, consumers should visit their credit card company’s Web site. Some of those sites have payoff calculators that can help you create a debt-management plan.

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