That’s the advice advocates are giving credit card customers in the months leading up to February, when the government imposes tough new rules on banks.

Politicians and citizen groups are hearing from customers who have noticed increased interest rates, changes in conditions and extra fees.

“They’re pushing limits and in some cases stepping over the limits,” said Lauren Bowne, a lawyer for the Consumers Union.

Under the Credit CARD act, banks will have a tougher time hiking interest rates on existing balances and will have to give more notice when they do.

The companies requested until February to come into compliance and insist stiffer fees are the only way to deal with a record number of balances going unpaid because of the lousy economy.

Some consumers fear banks are using the extra time to bend the rules and impose increases before the deadline – and some members of Congress are pushing to put the legislation into effect immediately.

“Credit card companies are pulling out all the stops in order to squeeze consumers before the new rules,” Sen. Chuck Schumer (D-New York) said. “Breaking all the rules before they go into effect isn’t exactly what Congress meant by coming into compliance.”

Consumers Union has found several ways companies are confusing consumers:

- Customers’ annual interest rate is jacked up to 29.99%, but the company will credit 10% back if payments are made on time. The catch: The interest rate bounces back up if payments are even a day late, and the bank can end the program at any time.

- Companies offer a variable interest rate that fluctuates like the Wall Street Prime Rate Index. Although the rate rises as much as the index does, banks might limit how far it decreases when the index falls.

Advocates are warning even the most faithful bill payers to scrutinize their mail to look out for any sudden changes – and, as always, to keep spending in check.

However Capital One Financial Corp’s (COF.N) U.S. credit-card defaults fell in October, but delinquencies rose in a sign that consumers remain under stress.

In a regulatory filing on Monday, Capital One said the annualized net charge-off rate — debts the company believes it will never collect — for U.S. credit cards fell to 9.04 percent in October from 9.77 percent in September.

However, accounts at least 30 days delinquent — an indicator of future loan losses — increased to 5.72 percent from 5.38 percent.

JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), Citigroup Inc (C.N) and American Express Co (AXP.N) were also due to report the monthly performance of their credit card portfolios on Monday.

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