Credit card rates: interactive graphic on APR changes
Interest rates no longer track the prime rate
By Tyler Metzger
Credit card rates used to closely track the prime rate, but they don't any more. Card issuers, for a variety of reasons, hang on to more of the spread between the rate they pay for funds and the rates they charge. It's one of many ways card issuers have raised costs for consumers in the face of declining revenues largely due to the recession and increased regulation.
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Three most recent Research, statistics stories:
Card debt falls in February – Credit card users cut their balances sharply in February 2014, even as personal income rose, says the Federal Reserve's monthly consumer credit report ...
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