Nearly every credit card on the market today is a variable rate card.
Early in the sales cycle when price came up I would quote rate card prices including standard volume discounts.
The three-month period marked the first time in nine long, hard quarters, that consumer magazines reported gains in both rate card-reported advertising revenue and pages.
We've crunched some numbers to illustrate how, for those who carry a balance over each month, even a better-than-average rebate can leave you no better off than a low-interest rate card.
Only when every one of these objections had been overcome and the prospect had clearly stated that the only thing standing between us was price would I come down off rate card.
According to the LowCards.com Weekly Credit Card Rate Report, the average advertised credit card rate was 11.68% in January 2009.
If you know you will need to carry a balance in order to repay your current debt or anticipated spending, consider a low interest rate credit card.
As you can imagine, the industry practice had always been to apply loan repayments to the lowest interest rate balances first, so they could pay down the 0% introductory rate credit card offers, while cardholders amassed much higher interest on their new purchases.
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France-born Laplance founded Lending Club in 2007 after he became irked by the massive disparity between the 18% interest rate on his credit card bill, and the 1% savings rate at his bank.
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The delinquency rate on credit card accounts dropped during the second quarter of 2012 to one of its lowest levels since 1994.
In the same period, the charge-off rate on credit card loans for the top 100 banks ranked by assets in the country dropped from 9.59% to 4.08%.
The delinquency rate on credit card loans for all commercial banks in the U.S. dropped from 6.76% in the second quarter of 2009 to 2.73% in the fourth quarter of 2012.
Read this Forbes article on how to get a better credit card interest rate.
Relative to the broader interest rate trend, credit card rates have not come down nearly as much.
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That is one reason why many cardholders received significant rate increases before the CARD Act went into effect.
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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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Worse, it had to slash the interest rate on its own card, undermining the core of its own finance business.
At that rate, the credit card giant would eclipse the U.S. Federal Reserve as the world's premier toll-taker in the currency business.
The January-March card delinquency rate was also down from 0.73 in the October-December quarter, when many consumers ramped up credit use to finance holiday season purchases.
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%.
The occupied rate charged against a card, or an account of block-time, is usually (but not always) charged at a higher rate than that which would be charged to a fractional owner, or a charter client.
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Hong Kong now has the highest default rate on outstanding credit-card debt in the world.
Citigroup boosted the minimum rate on its Platinum elect card by two percentage points in July.
Ms. CHU: Regulators have been mulling credit card reform, rate and fee reform, for quite some time now.
At this writing, the variable interest rate on the Citi Secured Card hovers at just above 18 percent.
At the time interest rates were rising, and interest rate caps were forcing credit card issuers to suffer huge losses.
All told, the card-delinquency rate has averaged 1.03 percent since 1992, said the firm, whose credit trend data is based from a sample of 27 million consumer records.
New rules limiting fees, such as those hitting card users exceeding their credit limit or paying late, and curbs on rate increases, make it less lucrative for card issuers to lend to the less creditworthy.
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That said, if you have the excellent credit and paid-off credit card balance necessary to qualify for a 0% rate, it is possible to transfer money from your card into your checking account, and then pay the mortgage out of those funds.
It now expects an 8.1% credit card charge-off rate, up from 6.7% last quarter.
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