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Credit Card Interest Rates At 25-Year High

Credit Card Interest Rates At 25-Year High

A “Financial Times” article notes U.S. consumers are paying higher interest rates on their credit card balances than they have in more than a quarter-century. The average rate on interest-bearing card accounts topped 17 per cent in May, according to Fed data, the highest in the 25 years that the central bank has been making the calculation.

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