Credit card rates rising, limits dropping

Now that homeowners can no longer easily use their homes as an ATM, many are turning back to credit cards.

But beware. Card issuers, like other lenders, are sensitive to problems in the beleaguered mortgage market and unlikely to give much leeway to consumers who start appearing risky. You may find your interest rate rising or your credit limit reduced.

"They are very, very sensitive to anyone who slips up on their payments, even just a little bit late," said Mark Zandi, chief economist at Moody's Economy.com.

Some consumer advocates say they have been hearing more complaints about higher interest rates and reduced credit limits when customers were late with a single payment or took on more debt.

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