News Credit card APRs set to reach all-time high — here’s what you need to know

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The interest rate of credit cards is now the highest it’s been since 1993, reaching an average variable rate of 18.77%. Since interest rates are expected to peak anywhere from 4.5% to 4.75% before going down, credit card APRs could easily surpass the all-time record of 19.00%.

Credit card APRs set to reach all-time high — here’s what you need to know : Read more