Fees and rates increase for credit-cards

Despite the Federal Reserve cut of its benchmark rate to 1%, a lot of people are still being hit by higher rates and rising credit-cards fees.
To make up for their mounting operational losses, many credit-cards companies are raising rates and fees across a broader range of existing customers. For that matter, even customers who pay their bills on time, are not immune. Here are a few examples of credit-cards issuers recent rates or fees hikes:
- Chase J.P. Morgan plans to raise its rates on credit-card cash advances and over-draft protection as well as default rate triggered by late payments or balances going over the limit. Chase will also start charging a new $10 monthly service fee to cardholders carrying large balances for at least two years, while raising their monthly minimum payments for outstanding balances, to 5% from 2%.
- Citigroup and American Express have for their part been notifying cardholders about impending interest rates raises by 2% to 3% .

For more, see WSJ.com