Credit cards raising interest rates

[Flowers]

I am confused about the posts that mention all the credit cards are raising interest rates.

I have 1 credit card with Capital One, $1500 limit that I use when renting a car.

Does every credit card just automatically raise the rate? How do I know? Is there a special letter going out separate from the statement? Rate increase only if you have a balance?

And is this the change come in February or are they doing this before then?

Thanks for explaining it to me.

[JEM]

The cards I have that have raised rates, sent out notices. Most informing me that the following month my rates would go up to 29.99%

It would only be if you carried a balance---if you pay it off each month or just use it to "secure" a rental car---the effect to you would be small, if any.