Mortgage interest rates aren’t the only interest rates that are in flux right now. Credit card interest rates are likely to be seeing changes in the next few weeks as well. Why? Because lenders are trying to make changes. This means that you need to be watching for notifications that your credit card interest rates
are changing. This could be a notification of your variable rate going up, or even of your fixed rate switching to a variable rate. Make sure you read the contents of the policy change carefully.

There’s not a whole lot you can do when credit card interest rates go up. Card companies reserve the rate to change interest rates, terms, conditions and anything else at any time. They just have to notify you that it’s happening. You can reject the changes, but that usually results in your credit card account being closed. The upside is that you can finish paying your account balance off under the old rules. The downside is that you have a closed credit card, and in the current climate, it might be harder to get a new one.