If you are still recovering from a holiday shopping binge, the latest news on credit cards won't give you much joy. There are some charges on credit and debit card bills that you need to be aware of. With credit cards, three trends could hit you in the wallet. First, grace periods are shrinking. That's the time you have from the end of the billing cycle to when the minimum is due. Second, if you miss your payment, you'll be sorry. Late fees on average are now over $30. Finally, let's say you are on time with your payments, but you are a day late on any one of your other bills. If you are late on your phone bill or car payment, you could find your credit card costs going up.