As usual, credit card interest is going up; it's to be expected. While I'm still using my card for transactions, I'm in a bit of a shaky place and need to put the card down. I don't think I'm in dire straits as my bill is under $200 and won't require payment for nearly six weeks. Nevertheless, when payday rolls around, they get more money.
Someone with far more financial sense than I have once told me that it's okay to carry a balance on your card if it's less than $1,000. I'm not going to do so.
Another cute idea, this one by Chase, was to have a one-time fee of $10 for transferring a balance to their card; but then they decided to make it a monthly fee! Their customer base is likely to have been much smaller if they had disclosed up front that they had an annual fee of $120.
Credit card defaults have also risen to a 20-year high. Also to be expected. Most likely companies have programs that people can go into that will help them, hopefully, to get by their crisis.
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