Also, your credit limits may start to decrease without your knowledge. Or, if you have a credit card that you  keep around for emergencies but has been rendered inactive, it may be canceled so the issuer can cut the cost of maintaining the account. These may seem like small changes, but they can hurt your credit score, so it’s a good idea to keep a close eye on your accounts these days. The Wall Street Journal reports how you can track what’s being done to your credit score.

This CBS News story outlines the changes that you will likely see happen in credit cards in the near future.

As the Wall Street Journal reports, there are also companies chomping at the bit to take advantage of people who already have loads of credit card debt, like Wally Bowman, a security guard in Ohio who paid a company $249 a month to settle his $15,000 of credit card debt. Unfortunately, the debt was never settled and instead increased to $20,000, forcing Mr. Bowman to file for bankruptcy.

As the crisis continues, keep an eye on your accounts and make sure they aren’t being changed without your knowledge, and read the fine print that comes with your statements. Knowledge is power, people! It’s your money.

Image courtesy of The Silver Penguin on Flickr.com.