return2ozma@lemmy.world to A Boring Dystopia@lemmy.world · 29 days ago2 in 5 U.S. credit card holders have topped out their spending limit, report findswww.cbsnews.comexternal-linkmessage-square19fedilinkarrow-up182arrow-down12cross-posted to: news@lemmy.world
arrow-up180arrow-down1external-link2 in 5 U.S. credit card holders have topped out their spending limit, report findswww.cbsnews.comreturn2ozma@lemmy.world to A Boring Dystopia@lemmy.world · 29 days agomessage-square19fedilinkcross-posted to: news@lemmy.world
minus-squarehark@lemmy.worldlinkfedilinkarrow-up10·29 days agoWhich is especially worrying considering the interest rate: (source: https://fred.stlouisfed.org/series/TERMCBCCALLNS)
minus-squarejubilationtcornpone@sh.itjust.workslinkfedilinkEnglisharrow-up6·28 days agoThose rates are nothing short of preditory. I’m also going to guess the average consumer doesn’t “shop” for credit cards. If you’re going to run a credit card balance, which you typically shouldn’t, you might as well make sure it’s costing you as little as possible. Fixed rate cards and cards from regional banks or credit unions will often offer lower rates.
minus-squarecelsiustimeline@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up1·28 days agoLow interest rate cards are for people with stellar credit. After 2008, credit scores across the board tanked.
Which is especially worrying considering the interest rate:
(source: https://fred.stlouisfed.org/series/TERMCBCCALLNS)
Those rates are nothing short of preditory. I’m also going to guess the average consumer doesn’t “shop” for credit cards.
If you’re going to run a credit card balance, which you typically shouldn’t, you might as well make sure it’s costing you as little as possible.
Fixed rate cards and cards from regional banks or credit unions will often offer lower rates.
Low interest rate cards are for people with stellar credit. After 2008, credit scores across the board tanked.