This is a guest post by Stanley Greenfield.

There are lots of things going on in the world today.  You have to pay close attention to everything that affects you and your pocketbook on a day-to-day basis.  You might not have noticed the latest that has started occurring and will continue to affect all of us to some degree.  I am referring to the “4 C’s”.  You say that name is not familiar to you?  Maybe I need to explain.

The 4 C’s I am referring to are Creepy Crawly Credit Cards.  Yes they are creepy and they are starting to crawl.  That crawl is not on level ground.  They are starting to crawl upward.  That makes them even more creepy!  The sneaky (maybe I should add that to the list and make it 5 C’s!) credit card companies have started the upward climb.  Yes rates are going up and will continue to climb even higher.

Have you noticed that you aren’t getting as many offers in the mail these days for credit cards with very low “teaser rates” that start at a very low level?  I think those are gone and will not been seen again.  The credit card companies are digging in their heels and will start to cash in on all those people they have “lured” in with those low rates.  No more “free lunches” and no more low rates. 

You say that you are not concerned because you have a credit card with a “fixed” rate?  Maybe it is time to read the “find print”.  No such animal exists.  ALL rates are subject to increases.  You can also trigger an increase if you don’t live up to the terms spelled out by your credit card company.  Thos terms are usually stated on the back of your bill that you get every month.  I am referring to that “fine print” that is small enough to be printed on the head of a match!  It might be advisable to take some time and a magnifying glass and see what they say.  They can raise your rates even if you always pay on time.

If you feel that your credit card company has misled you or raised your rate and don’t have justification to do so, you do have recourse.  You can file a complaint with the Office of the Comptroller of the Currency, which regulates banks.  They can be reached at 800-613-6743, or via e-mail at customer.assistance@occ.treas.gov.

Rates are headed up and credit cards are going to go along for the ride.  You need to pay close attention to your statements every month to see if those crawlers are creeping your rate up too.  Don’t fall victim to the 4 C’s without a fight! 

Stanley B. Greenfield has been engaged in the fields of Financial Management and Insurance for over 45 years.  Mr. Greenfield is a Registered Financial Consultant, and was awarded the designation of RHU, Registered Professional Disability and Health Insurance Underwriter, in 1979, as one of its Charter Members.