Credit Card Melt-Down

Here is something that is really getting to me lately. I realize Wall Street and the Banks are in a credit crunch. However it seems to me the credit card companies are really sticking it to us and thereby creating their own problems. I have had excellent credit for dozens of years. Then this past week I received four letters from my credit card companies informing me they were lowering my credit limits by1/3. Then to add insult to injury the also informed me they were increasing the interest they would be charging each month. Why? I have been paying on time each month and way more than I charge. I just don't get it?

The worst part is that as a result of the reduction of my credit, this will automatically lower my credit score. Now, if my credit score goes down they will again lower my credit once again and raise my interest. When is this going to stop? Or is this just a scam to raise the interest they are charging everyone by, the credit card companies artificially driving our credit scores down. This is just another way the Banks can blame us for our over spending, rather than take the heat for their mismanagement and over compensating their upper echelon. Here again we see yet another example of the golden rule in action. He who has the gold rules.