Rising credit card rates

There was an article in The Wall Street Journal this week about how the spread between the prime rate and credit card interest rates is the biggest that it's been in 22 years and is increasing. In light of the data that I recently posted about how the charge-off rates for credit cards are dramatically higer now than they've been in the past, I'm not surprised by this at all. I'd even guess that that's the main factor for the rising rates, not the recent Credit Card Accountability Responsibility and Disclosure Act of 2009.