Average interest rates on credit card accounts assessed interest last year rose to a record high of 22.75%. If you never carry a balance on your credit card this rate doesn’t matter, but only 35% of credit card users say they always pay their balance in full every month
Very interesting article Daniel. Years ago (prior to 1986) interest for credit cards was actually deductible- along with mortgage interest on your income taxes. Imagine how much revenue the IRS would lose if that was still the case today!
Very interesting article Daniel. Years ago (prior to 1986) interest for credit cards was actually deductible- along with mortgage interest on your income taxes. Imagine how much revenue the IRS would lose if that was still the case today!