Your not alone Dan, thousands (probably millions) of Americans have found themselves caught in the credit card companie well laid out plan. There is a lobbying group that is striking back and some legislation coming forward. The banks hate it which makes me think it's probably good legislation for the American consumer. Predatory lenders launched an attack on the American economy, now the credit card companies have moved in to to bayonet the survivors.

I just got the following email from a lobbying group and thought you might be interested.

After getting hundreds of billions from taxpayers, banks want to reach into your pocket again.

You accepted credit cards based on the terms and conditions offered to you. You held up your end, fair and square, but banks dug themselves into a hole. Now they want another bailout directly from you—by jacking up your credit card interest and hitting you with fees.

Lawmakers are back in Washington. Tell them to stop the switcheroo.

Over the past decade, credit card banks offered us trillions more in credit than we actually wanted. Sending dozens of offers a year by mail, hawking cards to college students without regard to their ability to pay, and offering ever more attractive balance transfer deals, they captured millions of new customers.

Now they want to switch the deal--just because they can.

The House has already passed a strong bill--thanks in part to your strong support. Now, it's up to the Senate. The Senate bill will stop the banks from hiking interest rates and fees on your credit card balances for no reason. It will require banks to allocate a portion of your payment to higher-interest balances. And it will finally set some limits on giving credit cards to young people.

Show your support for this good proposal.

The proposal is tough, and the banks don't like it. But they already got what they wanted--$700 billion taxpayer dollars to bail them out from their own mistakes. American card holders aren't asking for a bailout...just a fair system so they can reasonably pay down their debt.

Once you have taken a moment to support sensible reforms to rein in the credit card companies, please take another moment to forward this e-mail to anyone you know who uses credit cards so they can help, too!

Sincerely,
Pam Banks
CreditCardReform.org
A project of Consumers Union
1101 17th Street NW, Suite 500
Washington, DC 20036