Tips, News and Advice from Credit Card Assist

Credit Card Interest Rates Just Keep On Rising

by on April 18, 2012

While mortgage rates and auto loans are at near record lows, credit card interest rates just keep on rising. This is thanks, in most part, to the CARD Act of 2009. It severally limited overdraft fees and rate hikes. In turn, the credit card companies simply decided to raise rates at the initial offer of their card.

According to Bankrate.com, credit card rates are up three percentage points over just the last three years. The current rate is 14.5%.

If you have a balance, think about calling your card company to negotiate a better rate, or take advantage of the many 0% interest on balance transfer cards available. The Discover More card currently offers 0% on balance transfers for 15 months. It also has no annual fee and a 3% balance transfer fee. If you do not carry a balance, then the interest rate does not really matter.

Source: http://money.cnn.com/2012/04/04/pf/credit-card-rates.moneymag/
Be Sociable, Share!
This content is not provided or commissioned by the company whose products are featured on this site. Any opinions, analyses, reviews or evaluations provided here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Advertiser. This site may be compensated through the Advertiser's affiliate programs.

Leave a Comment

Previous post:

Next post: