Monday, January 31, 2011

Credit card rates at record highs near 15%

http://money.cnn.com/2011/01/28/pf/credit_cards_interest_rates/index.htm?iid=HLMNot%20perfect%20credit%20=%2059%%20APR

NEW YORK (CNNMoney) -- Interest rates are now hovering near record highs, at an average rate of 14.72%. And if your credit is bad enough, you could even end up with a rate as high as 59.9% APR.

That's because while the CARD Act helped crack down on certain fees and requires more disclosures, it didn't cap every credit card holder's worst enemy: interest rates.

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