Unlike the fixed interest associated with savings accounts, credit card interest is variable and can change--mostly higher--at any time.
We are of the opinion that if credit card interest rates do in fact get capped on a state by state basis, banks will extend less credit overall.
Lower balances are good for consumers because credit card interest rates continue to climb.
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Read this Forbes article on how to get a better credit card interest rate.
Banks are lowering their credit costs for consumers, so credit card interest rates are going to come down.
Citigroup now covers over 18 foreign exchange, equities, credit and interest rates markets in the Asia Pacific region.
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Despite what you might expect, consumer protection laws are not lowering average credit card interest rate charges at Discover.
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When I think of the thousands of dollars I spent on credit card interest, it literally makes me sick.
One notion not in this bill but proposed by Senator Bernie Sanders (Socialist--Vt.) would cap credit card interest rates at 15%.
Average credit card interest rates have been hovering above 14% for months.
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That compares to credit card interest rates of anywhere up to 30%.
Therefore, Chase did not have to provide written notice before raising credit card interest rates to account holders who defaulted on a payment.
If you've blown out the credit cards, it makes more sense to pay off the bank first because credit card interest rates are crushing.
Do you think that credit card interest rates should be regulated?
Rather than it being in an credit issuers interest to promote a general feeling of security, its in an issuers interest to emphasize why they are particularly secure.
In fact, in data gathered by the Consumer Bankruptcy Project, two thirds of the seniors going bankrupt specifically cited credit card interest and fees as the reason for their filing.
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The Bank of England's figures show that as of last November, the average credit card interest rate was 15.89%, while the average interest rate for a standard variable rate mortgage was just 3.98%.
Your credit card interest rates would go up.
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Rep. Louise Slaughter, a Democrat whose congressional district covers Buffalo and other parts of western New York, plans to take the fight against credit card companies up a notch by pushing legislation that would cap all credit card interest rates at 16%.
Letting borrowers replace low-interest fixed mortgages or even variable-rate home equity lines of credit with higher interest, compounding credit card debt is too risky in our still-shaky economy.
For that reason, financial advisers continue to advise borrowers to exhaust every other option a home-equity line of credit, a loan from a family member or a high-interest credit card before pawning anything.
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American consumers should brace for lower credit limits and higher interest rates on their credit cards in the months to come, according to a new survey of risk officers at financial institutions across the country.
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This raises the specter that the United States is doomed to many long, gray Japan-like years of economic twilight, with growth in the private sector being choked off through a rationing of credit so that the government and its Big Business cronies can hog low-interest credit while would-be new businesses that are the engine of job creation are left to fend for themselves.
For example, the fallout from the 2008-2009 credit crisis brought interest in the consumer financials industry and how the government can improve the credit practices of the companies involved.
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Sort of the same way a person with bad credit pays higher interest rates to buy a house or a car, Fannie Mae's credit was messed up.
Since most people would not want to have IRS as a creditor, you might prefer to borrow from friends, use your home equity line of credit (the interest may or may not be deductible), or choose to pay taxes by credit or debit card.
And the Senate rejected a proposed amendment that would have prohibited lenders (credit card lenders included) from charging an interest rate on any credit transaction (except real estate) that exceeds the maximum interest rate allowed by state law.
However, it will instead provide a 25% tax credit on the interest payments of the bonds.
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Unless addressed, high interest credit card and consumer debt can derail attempts to reach retirement goals.
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