As if a global meltdown, precipitous drop in investment value, and widespread unemployment isn’t bad enough, now the economic recession is now making credit cards a bad thing. Will the travesty never end?

How so, you may ask? It’s those greedy banks that are making a host of credit card rules changes to try and earn more money for themselves (gasp!) Smart Money highlights six steps many credit card issuers are taking that can become traps for peaceful, charge-loving shoppers. Their list:

1. Higher rates for everyone
2. Moving from fixed to variable rates
3. Annual fees
4. Usage fees
5. More junk mail
6. Reward hoops

More costs, more hassles, and less rewards. Ugh. If they don’t watch it, they may wean us off credit altogether.

Oh, we long for the glory days of free t-shirts on sign up, 0% balance transfers, and 10,000 miles credited for blowing your nose. Yes, those were the days.

6 Credit-Card Traps to Avoid Now [Smart Money]

— FREE MONEY FINANCE (Photo: yksin)

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