To the Point
As Interest Rates Tumble, Credit Card Rates Climb
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.
By Warren Olney • • 1 min readInterest 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.
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The full episode
3 of 3The Economy after the Great Recession- 0:00Scientists Decry Ruling Halting Embryonic Stem Cell Research
- 7:30What Comes after the Great Recession?
- 44:01As Interest Rates Tumble, Credit Card Rates ClimbYou’re reading this