American Express has announced that they will start squeezing more interest charges and fees out of some cardholders next month, raising rates by as much as three percentage points.
American Express also plans to increase the conversion rate for charges made in foreign currencies by one percentage point. Look for more credit card issuers to follow the re-pricing trend over the next three months. Remember to check your credit card statements for changes to your credit limit.
Citibank is planning to raise interest rates by at least three percentage points for about 20% of its U.S. card accounts.