Well it has happened again, my card from Wells Fargo sent me a notice letting me know that my credit limit was going to be reduced. Hmm I said ok I can deal with that, since I have not been using the card at this point for a long time.

Fast forward to a few weeks and another notice from Wells Forgo, this time stating that my interest rate was going, up. I have as with my other cards the chance to opt out and close the account. I have chosen to close the account, because it will take me a while to pay it all off, even with paying extra as it is. If the rate goes up, they win in two ways they get more interest from me and if and when I use the card again the new rate applies. By opting out as they call it I lose another card, and it hurts my credit score but if the rate goes up I lose anyways in extra finance charges. It is a no win situation for me the consumer.

Now my husband and I are down to 2 credit cards total between the two of us. Those cards have a zero balance, I figure there is no way to increase my interest on those, they have nothing to gain from it. For the time being those cards are being left alone. I say for the time being because I am pretty skeptical that they will just leave those be. The banks are always up to something and it is always not good for me.

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