Rising rates are not always bad. From the standpoint of debt you'll likely see rates on your credit cards rise, which can cost you more money. On the other hand, if you are investing you can make more money while the rates are higher or rising. If you have a lump of cash come in you have to decide where to put it.

CREDIT CARD REFORM BILL TRIES TO HELP CASH-STRAPPED CUSTOMERS, BUT COMPANIES HAVE NEW WAYS TO BOOST PROFITS

Credit card companies are socking it to consumers left and right. They're hiking interest rates to as much as 36% and doubling minimum monthly payments, frustrating customers who are already cash-strapped and credit-crunched.

STEPHANIE S. RECENTLY RECEIVED ONE OF THOSE LETTERS THAT CREDIT CARD ACCOUNT HOLDERS DREAD; her 11% rate had been raised to 29.99%. And when she called Citibank to complain, she was placed squarely between a rock and a hard place. Accept the higher rate, she was told, or close the card and accept the damage to her credit score.

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