Who gets hurt by higher interest rates? The people owing money get hurt the most, but the ones owing money on variable rates really get hurt. If your credit is tied to the prime rate as most credit cards and home equity loans are, get ready for this bear market in credit. This is the time to reduce your debt. Improve your credit position now, so that you can benefit from the next round of lower rates. The credit market, like the equity market, goes through cycles. The majority of financial experts are now calling for possibly two more rounds of interest rate increases by the Fed, but by the end of this year or possibly the early months of the next, we should see a leveling off, if not lower rates. Be in a position to take advantage of the lower rates. Deal from the strength of good credit. Make large payments now. Get rid of your high interest debt. http://www.creditsense.com