Those type of credit card rates have always been outlandish.
Inflation is bad, no need to make shit up about it.
I agree, but democrats want to get rid of credit card rewards because it only benefits people who are responsible and pay off their credit cards every month.
Lol âŚwhy do you think credit card interest rates are higher today if not for inflation?
(Iâll give you a hint, when inflation is high the Fed increases interest rates to lower inflation.)
Ding dong, did you read the line before?
The kind of cards we are talking about arenât.
I was responding to thisâŚ
Credit cards (Visa, MasterCard, Amex, etc.), not specialty credit.
I really must be inflation proof because as I cited in my post - I have two USAA cards with a 13% rate. Here is that info from my last statement
The average credit card interest rate is 27.62%, according to Forbes Advisorâs weekly credit card rates report.
Inflation is cooling, but a lot of consumer price increases are slowing, few are coming down. Most of the Covid induced factors that triggered inflation of cooled or disappeared. But inflation still remains a real issue. Something that gets overlooked.
Corporate profits have zoomed through all of economic chaos of the pandemic and remain high and climbing. I know the term âgougingâ is treated with disdain in some quarters, but itâs worth more than a casual glance.
True. Since 2020 do you know how much interest I have paid on these specialty cards? $0 So all one has to do is follow the rulesl. Also, I guess in exchange for my 13% rate on my USAA Visa and AMEX for purchases or cash advance, I do have to give up my airline miles. The last time I was on a plane was 2022 so it wasnât a big deal for me. AlsoâŚsometimes credit card companies will offer a balance transfer with 0% interest, and unlike the specialty cards, if you donât pay it off by the specified date it starts accruing on the remaining balance only. The only thing you need to do is transfer a balance to a new card and then DONâT use the new card.
More people should be like me then.
Only by the Democrats. Everyone else is aware that inflation is still high.
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Do you mean by reading the loan terms? Yes, they should because itâs not the lenders fault if someone doesnât understand what theyâre agreeing to. Just like mortgages back in 2008.
BTW I donât even know what my interest rates are on my credit cards, I pay the balance in full every month and get over $600 cash back every year.
Then why did you quote me?
And even if you were responding to that, you were wrong.
So?
I didnât. This is the postâŚ
Thanks in zero part to Biden.
Have profit margins gone up?
Do you read what you link to?
This article shows that CC companies have been raising interest rates higher than the Feds have been raising them.
Glad you askedâŚ