Credit-card lenders, facing higher defaults and new, profit-crimping laws, have been increasing fees and interest rates, raising minimum payments and cutting credit limits. Some Citigroup Inc. customers have seen their credit limits cut, their interest rates jump as high as 29.99% or their cards canceled altogether.

Last month, Bank of America, another large card issuer, said it is testing annual fees ranging from $29 to $99 on a small number of card holders, which may include some who pay their bills in full every month.

With the rest of the Credit Card Act of 2009 taking effect next February and more regulations to come, card holders are likely to continue being affected by rate and fee changes. “We’re not done yet,” says John Ulzheimer, president of consumer education at Credit.com.
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