Credit Card Interest Rates
Lenders have been known to raise credit card interest rates, simply because a borrower makes no more than the minimum monthly payment. These lenders feel that this is occurring because the borrower may be financially overextended. To the lender this indicates an increased risk. Many credit cardholders are under the false impression that a 0% interest card is a good deal. This is, in fact, untrue. Even though they may use a card yielding 0% interest, for a specific period of time, studies indicate that most borrowers who hold low interest cards typically overspend when making purchases. An estimated 90 million American's don't pay their monthly credit card balances, in full. ...
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