The interest rates which are involved with the transfer of cash and credit cards have risen and this has benefited the banks directly. According to the different statistics and information acquired in 2010, the minimum credit score for credit cards has increased significantly, within a few months. Let us have a brief look at the rising interest rates of credit cards:

· More than 54% banks are planning or have increased credit card charges for their customers

· Those having a poor credit will face an increased APR and nearly 74% of banks have done this.

· Credit limits of various customers possessing credit card have been reduced by more than 50% of the banks.

· Getting a card has become much tough, as loan officers have tremendously increased the credit score requirement for a prime customer.

· Nearly 40% of different banks have increased or are planning to increase annual fees, which is associated with the credit card.

Of all the acquired data its clearly shows that interest rates have raised and banks have profited greatly from them. This also shows that bearers of credit cards have faced certain difficulties due to change in different rates.