As Interest Rates Tumble, Credit Card Rates Climb

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Interest rates for the US Treasury, business firms and home-buyers are going down but, despite new regulations, the rates for credit card borrowing are going up. New laws limit banks’ ability to increase rates on people who get behind on their credit cards. Credit card companies have responded by increasing rates on everybody. Yesterday’s Wall Street Journal reports that rates are at their highest level in nine years. Kelli Grant is senior consumer reporter for SmartMoney.com.

Credits

Guest:
Kelli Grant - Senior Consumer Reporter, SmartMoney.com

Host:
Warren Olney

Producers:
Sonya Geis, Darrell Satzman, Karen Radziner