I previously blogged here about the top ten consumer-friendly credit cards. There's a different list of "consumer-friendly" credit cards popping up on the internet, but I would be careful; the one I see a lot is actually a list of the top ten consumer friendly rewards.
Here's the first paragraph of their letter:
So they're blaming the "Challenging Economic Environment" for these changes. It's a microcosm of the economy writ large; even though I've never missed a payment, I'm seeing my APR go up by 6 points because Target has given too many credit cards to other people who couldn't pay their bills. They're robbing ants to pay grasshoppers everywhere you look these days.
Like many credit card issuers in this challenging economic envioronment, we are modifying some of the terms of our REDcard(sm) Agreement. The details of these changes are outlined below. Please know that we remain committed to providing the great guest service, outstanding value, and exceptional support to our communities that you have come to expect from Target.