Consumer credit cards reached 14.26% in February compared to 12.03% in the final quarter of 2008. That increase reflects an additional $200 annual increase in interest payments for the typical American households. Because of tight credit and credit card defaults, interest rates on credit cards may reach 17% by this fall, according to Dennis Moroney, [...]
Average rate of 17% coming?
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More credit card bills paid each month
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Forget the mortgage, pay off the credit card.
That seems to be the message Americans are getting from their elected officials as a new study conducted by BillShrink.com finds that 59 percent of Americans are paying off their credit card balances in full every month. That’s an increase of 13 percent from the previous year.
At the [...]