NAPLES, Fla -- A majority of participants in a online survey conducted by CardTrak.com said they saw their credit card interest rates rise in 2008 and many others have reported a variety of other changes in their cards.
CardTrak specializes in tracking broad based credit card and consumer debt trends.
According to CardTrak, 53.5% to the roughly 1,000 cardholders who responded to the survey in December of 2008 said their credit card interest rates had increased in 2008. Almost 37% said their credit limits had been reduced, 26.1% had seen some of their credit card fees raised and 16% said their card issuers had added new fees to their cards.
But the tightening of credit was not entirely uniform. Almost 30% of surveyed cardholders said they had seen their credit limits increased in 2008 and almost 13% said their interest rates lowered.
Overall 23% reported they had little used credit accounts closed by their issuers.
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