It it unfortunate the credit companies gave credit recklessly and now they are making up their losses on people who pay. 25% seems unconscionable for those who have been paying as agreed to.

I've never had a credit card balance, so i'm not sure how it works --- do you have to pay the higher interest on the current balance, or just on new balances you incur? In other words, if you have a $6K balance and have been paying as agreed and not late at 8%, are you suddenly paying 25% on the same balance the next month if you make no new charges to the card? If so, I hope you can look around and transfer your debt somewhere else at a better rate.