Clark is getting scattered calls from listeners who are outraged or perplexed by the actions of their credit card issuer. The issuing banks are raising interest rates by 20% or more -- even if the individual has good credit, has never been late or hasn't even had any change in their credit standing. This is happening across income levels, affecting even successful business owners and moderate to wealthy individuals.

Fortune confirms that people have seen their rates skyrocket for no reason. The magazine profiled a man named John who had a card that went from 7% to 26% even though nothing changed with his financial standing. Bank of America, Citibank and Capital One are among the issuers who are jacking up rates in the face of a "continually changing business environment" -- which simply means "we're doing it because we can."

The Federal Reserve says that 37% of issuers have increased rates. And get this, Business Week reports that the dollars at risk with people who may not pay is greater in the credit market than in the mortgage market. As the magazine writes, "The consumer debt bomb is already beginning to spray shrapnel throughout the financial markets."

The problem with banks jacking up the rates is that they're making it tougher for someone who might have been able to pay at 5%, but could never pay at 30%. They're shooting themselves in the foot.

Here's the takeaway: The only smart move is to pay your debt down or pay it off. Don't assume you're a sitting duck if your standing is decent; you can shop around for a lower rate offer.

Meanwhile, a special warning: If you're in debt over your head, be wary of those debt negotiation firms that are all over the Internet and late-night TV. They're through and through rip-off artists, according to Clark. Do not believe these lying fools about their ability to negotiate with your credit card company and reduce your outstanding balance by 50% or more. These con artists get you to pay them money as a retainer and then tell you to stop making all payments. But many banks won't even take a phone call from these people anymore because they're on to their game.

So what can you do? Try calling your issuer and telling them you're in over your head. You may get blown off or they may work with you. If you get the cold shoulder, go to NFCC.org and find a local affiliate who can help you to come up with a debt-conquering plan.