While rate increases are "yuck," we must also remember than interest rates are commodities in a very real sense. As such, they are subject to fluctuations and changes irrespective to your personal credit activities.
Just as when you put your money into a 401k account, it's value fluctuates not because of you, per se, but because of the market value, profits and losses of the companies you are invested in.
Interest rates are the same, on the other end. The companies performance, its profits/losses and the market in general and that companies access to credit and deposit money all affect the APR. And then your performance also affects it (for example if you are late you will receive a nice "default" rate APR.)
Hopefully the markets will recover, competition will kick in, profits will resume and confidence will return in the markets. This will create better rates.
On the other hand, you may want to consider going to those institutions not so affected by the financial market meltdowns, like CU's who still offer very nice rates and are not-for-profit member owned.
My wife and I are getting 7.9% for no-perk cards and 9.65% for reward cards.
Message Edited by txjohn on 07-11-2009 10:40 AM
Starting Score: TU 766 EQ 788