You are a little harsh on credit card companies. After all, they offer convenience and credit and expect to make a profit. I think that the profit is way over the top, but it is our choice to use the service. If they had to scramble for customers, they might be more reasonable.

I do have an interest in this new law covering the behavior of the credit card companies. I pay off my Discover card balance each month, yet, I got what was a very nastily phrased letter telling me my annual interest rate was going up and I could take it or drop the card. If I hadn't been reading about the companies' scramble to raise rates and to do it in this way, I would have been stunned and furious. I was only hurt that they didn't think to rephrase what they had to say. You know: We appreciate your business but need to raise our annual rate. In order to give you time to make a decision, this will take place in two months. During that time, you have the right to cancel your card with no penalty as long as you pay off the entire balance. Not: take it or leave it.

I'll keep the card for its convenience but I'm much more likely to look elsewhere when a good offer comes along.