More than 30% of consumers report credit card changes

Nearly 34% of consumers said their credit card company had made changes to their card accounts, according to a survey from consumer education website Credit.com.

More than 1,000 people were interviewed in a telephone poll conducted from Friday through Sunday by GfK Custom Research North America. 

Of those, 15% saw an increase in their interest rate, and 11% noticed an increased minimum payment requirement. Rewards programs were reduced for 8%, while 9% reported different due dates and 8% had their credit limits lowered.

In the end, 7% said their accounts are now closed. The answers total more than 34% because some respondents saw more than one change.

-- Tiffany Hsu

Comments

[Credit World]

Credit card issuers are on the defensive mode now.

This is to prevent further losses on their credit card business due to significant increase in defaulters.

Not only changes are made to existing cardholders, it is now much harder to get a new credit card.

Amex has even offers $300 gift card to selected customers, if they pay off their balances in full and closed their accounts with amex.