prime rate goes down again, good for credit card holders

As of October 29, 2008 the Federal Reserve has lowered Prime Rate to 4.00%. 
How does this affect you.  When you see a credit card offer that says “prime + 4.99%” , you know your APR is going to be (as of oct 29) 8.99%.   Not bad.  some of these cards can be hard to apply for, [...]