This year is expected to be a rough one. They say that some credit card interest rates are going to increase up to 30% or higher. Even if you are a responsible credit cardholder and you have no problems you can't be completely safe from interest rate rise. Even the most profitable cash back credit card won’t piece out the losses you'll have. Sorry to say but you won't be able to prevent this situation but still you will be aware of it.

If the experts' prediction turns out to be true you'll have to try hard to secure yourself from possible money problems. Here are several tips that will help you to protect yourself from financial problems if that rise is going to take place.

Be careful
Even if your credit history is good your interest rate will rise if you are late with credit card payments. If you fail to pay or go over your credit limit you will be charged a default fee which is usually about 32.24%. Not to make serious mistakes you have to be aware of your due dates, the time of you introductory period, APR and all other features of your credit card.
Bear in mind that your due date is the last day when you can make payments. To defend yourself from any problems with your credit card company you should read the credit card offer's terms and conditions attentively from the very beginning up to the end. Focus your attention on what is written in the fine print.

Try to understand the language
You should be aware what APR is. It’s your annual percentage rate, a sum of money you have to pay for carrying the balance every month.
Now the situation changes and interest rates decrease. According to the latest information the average interest rate has gone beyond 14% this week.

Act
Address your credit card company and ask if it is possible to make your interest rate as it has been before. If everything is all right and you have gained the reputation of a responsible credit card holder, the credit card issuer can approve your request.
If you are refused try to come to an agreement saying that you'll make payments on time. One more thing you are able to do is to ask your creditor to freeze the interest rate. However using this option you won't be able to make purchases.

Choose one of the ways to get rid of high interest rates. If nothing helps you can apply for a low interest credit card. Find some information about this card from the point of view of other consumers and feel free to get it.