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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Collectors see less credit card debt – Credit card holders are less likely to get calls from a debt collector than in the past, because collectors have less card debt to pursue, industry surveys say ...
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