annamaria

No, you didn’t misread the headline, it’s very true, according to Yahoo Finance somewhere out there is a credit card with a 79.9 percent interest rate. Even more shocking, the targeted consumers (those who rely heavily on credit, and cannot get approved for cards elsewhere) are actually biting. “It’s the highest on the market. It’s the highest we’ve ever seen,” said...

According to Fed-What goes up must come down, in regards to variable interest rate. This week, the Fed revealed a new rule, that will force credit card issues to halt a growing industry tactic that benefited banks but troubled consumer advocates: The Fed said that on variable rate credit cards, interest rates must be allowed to fall, not just rise. This change is now part of the 1,155-page final...