I rejected a B of A interest rate increase end of last year. It was not a default increase, btw, just arbitrary. I successfully fought off a default increase from Capital One -- they like to jerk around your due date to see if they can catch you napping. I use automated bill pay and they got me, but I threatened to close and do a balance transfer and all became right with the world again. Of course, that was before the latest round of rate increases and credit line slashing. Amex slashed my credit limit on a card that I don't use anyway, no big deal. But yeah, you can feel the tightening. And you get the sense that they are doing it to people who they are pretty sure will just keep on paying. I wonder if there will be some blowback, though. I mean, if I lost my job and had a balance on my card, and they rate-jacked me, you can bet your ass that would be the last bill I would pay.