But, like thousands of other credit card customers around the nation, he has been notified his rate is skyrocketing. "It almost borders on loan-sharking, from my perspective," he said. In the blogosphere, writers are livid at the instant rate hikes -- called "rate-jacking."

Citigroup seems to be the target of most bloggers' venom -- partly because Citigroup issues so many credit cards and partly because Citi began sending the notices at about the same time it was getting a $20 billion, taxpayer-financed government bailout.

No one at Citigroup would talk on camera to CNN about the matter. Instead, the company issued a written statement, which said: "To continue funding in this difficult credit and funding environment, Citi is repricing a group of customers."

Read full article here.

Cut them up while you can. Pay the minimum to more than the amount owed per month and start paying cash for everything.