WOODLAND HILLS, CA–(Marketwired – Apr 28, 2016) – If you’re struggling to make any real progress on paying off your mounting credit card debt, you aren’t getting any help from Uncle Sam these days.
Credit card interest rates have risen since the Federal Reserve hiked its target rate in December 2015, especially for people with worse credit, Vantage Acceptance announced, citing a recent CardHub study.
In the first quarter of 2016, credit card interest rates for people with “fair credit,” the lowest of three categories, averaged 20.97 percent, up 6.72 percent from a year earlier. By contrast, rates for people with “excellent” credit averaged 13.02 percent, up just 0.46 percent, while rates for “good” credit c…
Read the full article at: http://www.marketwired.com/press-release/vantage-acceptance-urges-debt-settlement-as-credit-card-rates-climb-2119714.htm