It's here. If you haev good credit and pay your bills on time get ready to be screwed. Your now paying for all the irresponsible CC holders.
I'm a firm beliver in the power of CC's. I can honestly say I would not be in the postion I'm in today w/o the skilfull leveraging of credit cards.
I was checking my credit cards this morning. I have one card with a 25k balance/100k limit...the rate is locked. My other daily cards carry no balance...all the purcahse APR rates sky rocketed to 21.99% Crazy!
My credit score is right at 800.