Knowlopedia
Valued Contributor
- Credits
- $0.37390
A high interest rate credit card is a type of credit card that offers a high interest rate , but also has a higher limit than most types of cards . A low interest credit card ., on the other hand , doesn't offer much in the way of appeal to people looking for big spending power or rewards. But it's important to know your options when selecting the best kind of card for you .
High-interest Credit Cards are the most common type of credit card. They offer a high interest rate, but that interest is paid back quickly and in full . About 33 million credit cards in the U.S. that charge a variable rate are high-rate cards, according to a Federal Reserve Board report released last week . Of those, only about 1 million charge a variable rate over 16 percent (16%) . The average variable rate charged was 14 percent. A variable-rate card is one where the interest rate can change periodically based on financial markets for lending money, usually within 24 hours of the changes taking place .
High-interest Credit Cards are the most common type of credit card. They offer a high interest rate, but that interest is paid back quickly and in full . About 33 million credit cards in the U.S. that charge a variable rate are high-rate cards, according to a Federal Reserve Board report released last week . Of those, only about 1 million charge a variable rate over 16 percent (16%) . The average variable rate charged was 14 percent. A variable-rate card is one where the interest rate can change periodically based on financial markets for lending money, usually within 24 hours of the changes taking place .
