Credit card companies have been of late increasing their APR lending rates and more so paying no heed to the Credit Card Authorisation and Responsibility ACT which came in to enforcement this year.

Not only have the credit scores gone down, there has been attempt by the credit card companies to find ways around the CARD act.

Discover, American Express, CITIBANK, Wells fargo and many others have been on the look out to tempt customers with variety of card options. Basically getting the consumer to pay more out of their pockets.

What you should be doing to get out of this complete sorry situation is to say to the Bank that you do not need their cards any longer. Infact as a token of Direct Action, it would be much better if you actually cut the card into two pieces and send it back to the Banks.

Economics is all about Demand and Supply and Bargaining.So if you are ready to negotiate a better dea then as the rules of negotiation state, you need to be prepared to do without the Credit Cards. Let the banks realise that they are the ones who would be out of Business.

can you imagine what a movement like this would bring, yes a much fair and consumer driven market in credit cards.

Risk your chance of doing without a credit card and get te best bargain possible. The fact remains, the Banks and Credit Card Companies want that card in your pocket. And when you say no to that Credit Card, they will be much more concerned to help you out.

But is it that easy to cut a card and give it to the banks? No since we have a complete financial emotions around these cards and what they represent. So while it seems to be a simple advice, it actually is very difficult to execute.