MONEY-SAVING MOMENT: Wells Fargo is planning to raise interest rates on credit card customers across the board by November 30. They're rushing through an increase before a new federal ban on raising rates on existing balances goes into effect December 1.

So what does this mean to you?

Well, the giant monster mega-bank was a beneficiary of bailout money and your reward is that they boost your interest rate?! Your assignment is to reduce the amount of money you owe on credit cards. Go join a credit union and get one of their credit cards to do a balance transfer if you must. At least the credit unions are not pulling all these gimmicks like Wells Fargo.

And we have one more announcement for Wells Fargo customers. The San Francisco Chronicle reports the bank is doing blanket reductions in home-equity lines of credit (HELOCs) without doing individual property assessments.

(Editor's note: Wells Fargo gave us the following statement: "The fact is we conduct case-by-case reviews based on a variety of possible factors such as credit scores, debt levels, payment history, property value changes, etc. to determine if a customer’s home equity line of credit limit is in line with their financial condition. We also encourage our customers to call us if they believe we made our decision on incorrect or incomplete information.")

This is reportedly happening to 3.6 million people.

(Editor's note: Wells Fargo maintains the following: "We serve a total of 2.6 million home equity households across the country. And the majority of our customers have not had their lines reduced or restricted.")

If you are in midst of using your Wells Fargo HELOC, Clark advises you to draw it down right away and deposit it at another financial institution so they can't automatically claw it back from your account.