Consumers are increasingly struggling to pay their credit card bills, raising concerns about severe delinquencies spiraling and sapping consumer spending.
  • Alexstarfire@lemmy.world
    1012·
    7 months ago

    I’ve had credit card for 2 decades and don’t think I’ve ever seen less than 20% interest, and I’ve got good credit. Though, I’ve also never really cared since I’ve never paid interest.

    • Thrashy@lemmy.world
      12·
      7 months ago

      I’ve got the good fortune to have an >800 credit score, and even the offers I’ve seen from “status symbol” card issuers have had bonkers-high interest even when the Fed was holding the prime rate close to zero. The lowest I’ve ever seen was still around 15%, and even at that “low” rate you’d have to be truly desperate to carry a balance. Even unsecured personal loans tend to carry interest rates at half of what a credit card offers.

    • QuarterSwede@lemmy.world
      51·
      7 months ago

      Had a CC with 7.99% flat rate interest back when variable wasn’t the only option. This was 10 years ago. Bank dropped it the first time we had no balance on it and didn’t notice. Bastards.

      My rate hovers at low of 790s to high of anywhere in the 800s and I see 15% cards at the low. Just god awful these days.