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Sen. Josh Hawley said he has teamed up with the consummate supporter of every bad economic idea, Sen. Bernie Sanders, to introduce an arbitrary 10% cap on credit card interest rates.
In late 2021, the average interest rate for a credit card was about 14.51%. By 2024, it was over 21%—and many Americans find themselves with cards charging as high as 30%.
Having multiple credit cards is good for your credit score, so consider keeping your high-interest account open while you look for a new card with lower interest or better credit card rewards ...
2. Make more frequent payments. You can reduce the interest you pay on credit card debt by making multiple payments on your balance each month. Taking this step reduces your average daily balance ...
Interest rates vary widely. Some credit card loans are secured by real estate, and can be as low as 6 to 12% in the U.S. (2005). [citation needed] Typical credit cards have interest rates between 7 and 36% in the U.S., depending largely upon the bank's risk evaluation methods and the borrower's credit history.
Among them, 67 percent said they still try to maximize credit card rewards, despite owing money on their cards. With the average credit card interest rate on accounts assessed interest currently ...
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