FraudulentCharges.com

The frustration is mounting among people who are trying to pay off credit cards only to find that their banks are making it harder by changing the terms. In some cases interest rates have shot up to more than 30 percent a year.

So what can consumers do? Amy Minch is the California woman who took an unconventional approach: she went on YouTube and launched a tirade against Bank of America after she said the Bank raised her interest rate from 12.99 percent to 30 percent for no reason. After the video garnered attracted national attention, she said Bank of America contacted her and she negotiated her rate back down to 12.99 percent.

But many consumers haven’t been as successful at negotiating with their credit card companies. “We’re getting a lot of frustrated calls from consumers who’s terms are changing,” said Mechel Glass, Education Director of Consumer Credit Counseling Service’s Atlanta office.

In some cases, interest rates are going up. Banks are also doubling minimum payments in some cases and shortening their billing cycle, which can result in late fees for customers who don’t read the fine print.

Large banks are taking advantage of the few months left before new consumer protection laws go into effect. Starting in February 2010, they won’t be allowed to charge over the limit fees, or to raise interest rates on existing balances unless the customer is 60 days overdue. Some of said they are also trying to recoup losses caused by delinquent cardholders.

Glass said the best case scenario for consumers is to simply pay off credit card debt as soon as possible. For those who have high balances she suggests transferring the balance from a high rate card to one with a lower rate, but first checking to make sure the balance transfer fee isn’t exorbitant.

Websites like Bankrate.com, fatwallet.com and billshrink.com have caculators to help determine which card is the best. Consumers with high balances will need cards with low balance transfer fees and interest rates, while those who never carry a balance from month to month can benefit from cash back cards.

Although some states have laws capping credit card interest rates, many credit card companies are based in Delaware and South Dakota, which do not. Under current law, the laws of the card issuing state apply, not the consumer’s state.

Consumers who would like to express their opinions about credit card policies can contact their lawmakers below:

U.S. Senator Saxby Chambliss
416 Russell Senate Office Building
Washington, DC 20510
(202) 224-3521

North Georgia Office
100 Galleria Parkway
Suite 1340
Atlanta, GA 30339
(770) 226-8633

To send email: http://chambliss.senate.gov/public/index.cfm?p=Email

U.S. Senator Johnny Isakson
120 Russell Senate Office Building
Washington, DC 20510
(202) 224-3643

Georgia Ofice
One Overton Park Suite 970
3625 Cumberland Boulevard
Atlanta, GA 30339
(770) 661-0999

To send email: go to http://isakson.senate.gov/

Georgia Congressional Delegation:

House Members:

Lynn Westmoreland (R-GA-3)

1213 Longworth House Office Building,
District of Columbia 20515-1008
Phone: (202) 225-01

1601-B East Highway 34
Newnan, Georgia 30265
Phone: (770) 683-2033
Fax: (770) 683-2042 Contact Lynn Westmoreland Via Email:

1133 Longworth House Office Building,
District of Columbia 20515-1004
Phone: (202) 225-1605
Fax: (202) 226-0691

Lithonia Office:
5700 Hillandale Drive, Suite 110
Lithonia, Georgia 30058
Phone: (770) 987-2291
Fax: (770) 987-8721 Contact Hank Johnson via Email

John Lewis (D-GA-5)

343 Cannon House Office Building,
District of Columbia 20515-1005
Phone: (202) 225-3801
Fax: (202) 225-0351

Lawrenceville Office:

75 Langley Drive
Lawrenceville, Georgia 30045
Phone: (770) 232-3005
Fax: (770) 232-2909 Contact John Linder Via Email

225 Cannon House Office Building,
District of Columbia 20515-1013
Phone: (202) 225-2939
Fax: (202) 225-4628