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Retail credit card interest rate hits record high

Por: The Hill Politics November 08, 2022

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The average credit card interest rate for retail stores has hit a record high of 26.72 percent while general purpose credit cards now charge an average of 22.6 percent, according to a study released Monday by industry group Creditcards.com. The rise in annualized percentage rates (APRs) comes as the Federal Reserve is raising the rates at which banks can borrow money from each other, making financing more expensive throughout the economy.... + full article



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