Are you getting the best deal on your credit cards? If you regularly carry a balance, a new survey from CreditCards.com suggests there's almost a 50/50 chance you don't know how good your deal is – because you aren't sure what the annual percentage rate (APR) is on your cards.
The poll of 2,315 adults found that 48% of credit card holders who carry balances weren't sure about the interest rates on their credit cards. Only 39% of cardholders with balances claimed to know the interest rates on all their cards.
Worse yet, cardholders making less than $40,000 per year were significantly more likely not to know the APRs on their credit cards than higher-income groups. In general, lower-income consumers have the greatest need to track APRs, because they have tighter budgets and less room for error.
Credit card APRs are at an all-time high average of 16.71%, and they are likely to go higher. If you have a variable-rate APR, as most cards do, the rate is tied t...
from MoneyTips https://www.moneytips.com/most-of-us-dont-know-our-credit-card-apr/216
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