Reported about 18 hours ago
A recent survey reveals that the average retail card interest rate is still above 30%, remaining near its highest level since 2008, despite modest declines and expected Federal Reserve rate cuts. Factors like increased delinquencies and the ease of obtaining retail cards contribute to these high rates, with many cards raising their APRs over the past year. As retail cards decline in popularity compared to alternative payment options, responsible usage remains essential for consumers navigating these high-interest products.
Source: YAHOO