Credit card rates move higher, but it's unclear exactly why - USATODAY.com

Credit card rates move higher, but it's unclear exactly why - USATODAY.com

I think a little common sense is in order here. The banks are trying to replace revenue from lost fees as a result of new federal rules imposed last year. The banks seem to think it is their right to milk consumers dry with the most unconscionable fees they can get away with, and raising rates is just another example. They have already cut off consumers from credit, and the raising of rates is one of the few chokepoints they have left to screw consumers.