Facing the greatest financial crisis of the generation, lenders are taking a number of actions to mitigate their risk. In addition to slashing credit limits, credit card issuers are reacting by aggressively closing inactive accounts, hiking rates and fees, and even completely eliminating balance transfers and convenience checks.

As the end of the year nears, it’s especially important to carefully read your credit card statement, as issuers are cramming all sorts of new changes to your agreement–with many of those changes resulting in increased rates and fees. Here are a few of the recent changes I’ve noticed in my agreements:

Increased forex fees
At the same time that American Express sent notice that it would no longer allow balance transfers and convenience checks, it also noted that it would increase its fees for transactions made in foreign currencies. As of January 11, 2009, the foreign exchange fee will be increased from 2% to 2.7%.

Higher late fees and balance transfer fees
I also noticed that Pentagon Federal Credit Union plans to hike a number of its fees beginning January 1. Its late fee will rise from $33 to $39, it will introduce a default APR of 17.99% (where it previously had none) and will increase its balance transfer fee from 1% to 2.5%.

Penalizing those with life of balance offers
Chase has indicated it will begin charging some customers who have carried a balance for more than two years (primarily those with large balances at promo-rates) a $10 monthly fee and increase their minimum payment to 5% from 2%.

Taking an informal poll, have you noticed any recent fee or rate hikes on your cards?