I've had a Cabela's Credit card for I think 12 years now. It's been a handy tool for emergencies and those special items that are on sale for only a short while. This last week, we received a letter from them stating that because of current market trends, their interest rates on the declining balance needed to be adjusted. They changed our interest rate from 9.99% to over 21.99%. I don't think that this so-called recession has more than doubled the cost of borrowing money. I'll be (darned) if I ever use that card again. I'm going to pay it off as soon as I'm able, then cut that sucker into the smallest pieces possible. For Cabela's to do business with a lending institution like that is sad. Not that long ago, interest rates like that were called usury and they were criminal. It looks like another of the big box stores is out to get your money instead of your satisfaction. If they lose a customer, it doesn't matter to them. They'll just get another.
WOW! I guess I'm upset.