If your credit card company is constantly raising your rates and increasing your fees, you may be wondering if keeping your card is worth the hassle. Credit cards, however, do offer some protections that debit cards don't. Watch Carmen Wong Ulrich explain why you shouldn't cancel your credit cards and how you can avoid paying the higher rates and fees.

If you have a financial question you'd like Carmen to tackle, post it here in the comments or email us directly at ivcommunity@mail.ivillage.com

Watch Carmen Wong Ulrich's 'On The Money' Saturdays at 8PM ET on CNBC! Find more information on coping with the economy with our Bail Yourself Out resources.