Why have the credit card rates gone up so much in the last few years?
Billionaires and politicians.
Every state has laws to control the interset rates and fees that credit cards can charge.
The billionaires that own the banks and credit card companies didn't like that.
It cut down profits.
The politicians in congress passed a law that said that credit cards could follow the laws of the state where they had their headquarters, no matter what states they did business in.
Most credit card companies moved their headquarters to the states with the loosest laws.
Interest rates and fees went way up.
Lots of people went deeper into debt than they had ever wanted.
The rich got richer.
The poor got poorer.
Did the politicians pass that law for us, or for the billionaires?

What the next President should do:
1- Limit credit card interest to 6% per year, and fees to $1.00 per month, retroactive to January 1, 2001.
2- Cancel all credit card debt since January 1. 2001 that was caused by higher rates.