Are you kidding me? (this is Ken)

I am boiling mad!

I just heard that fixed-rate credit cards may soon be a thing of the past!

The credit card companies don't already make enough money? This newest change will cost cardholders millions.

Chase Card Services has already notified some cardholders that their fixed rates were being converted to a variable rate tied to the prime rate.

Discover Financial Services has also notified some customers that their fixed rates were changing to a variable one.

More bad news...nearly all of Bank of America's fixed-rate cards will be converted to a variable rate.

Any good news? YES...well, maybe.

Although variable rates will go up QUICKLY when interest rates go up, supposedly, the card's interest rate will go down if interest rates go down. Our guess - rates won't go down nearly as quickly!

We do expect interest rates to go up from here. The bottom line-read any and all correspondence from your credit card company so you don't miss any important changes to the terms of your card. And avoid these new credit card company-friendly cards like the plague!

More ways to fight back against credit card dirty tricks.