1.    A credit card company legally only has to give you 15 days notice when changing all of the terms that deal with the credit card.

We get relaxed with credit card companies changing our interest rate by as much as ¼%, but do you have any idea that they can alter the terms of your credit card for any reason at all.  If you are late on a payment or miss a payment you can be charged double if not triple.

2.    A purchase that you made long time after you bought it can be changed by the credit card companies.
If you  purchased a nice car radio say 2 or 3 months ago using your all handy credit card and was costing say 8.8 APR, and you happen to be late, they can raise your interest as much as they would like.  And there is not a thing that you can say or do about it.
This might not seem like a big deal but this could make your TV cost much more in the long run and that is not anything that anyone would want.

3.  Any of those discount offers that you accept, they are only good it you can keep up with the payments.
No matter what they offer you, they can all disappear with one failure to keep up with you payments.  If you have taking any offers, make sure that you keep up with all of your payments to keep from losing these special offers.

4. The credit card companies are not all that you have to keep in your sites financially.

Your credit card interest rate can increase if you miss a mortgage payment; the credit card company can even take another look at your credit and adjust your interest rate to the way that they see fit.

So no matter how good you keep up with your credit card statements if you miss a payment on anything in your name the credit card company will raise your interest rate.

5. You are helping credit card companies make record profits at this very moment.

If you don’t pay off your credit cards each and every month then they profit heavily off of the interest rates.
It does not make much sense to save your money making up to 5% and pay a high interest rate on your credit cards.  Just pay off the card every month and use it for strict emergency rather than for a savings account.  You could substantially save money if you avoid a credit card that is a fact.

Credit card companies can hold you hostage without you even knowing it, Don’t allow these credit card companies to make money off of you and to benefit from your misfortune.

If you can pay off the balance in a few months, then please do so. And if you cannot then think of some sort of consolidation loan to get out from under the debt and become free form debt.