Nice Work If You Can Get It
Bill Quick

Average credit card interest up to shocking 21% | New York Post

Credit card companies know there’s no free lunch, but they’re letting more customers get a taste as an enticement by gouging their existing card members.

The average credit card interest rate for people with fair credit has hit a shocking 21 percent, up more than 2 percent from only a year ago, according to industry group CardHub.

Good thing there is no inflation.  Well, except on stuff you don’t use, like food, fuel, housing, and credit.

What’s most interesting about the credit hike is the effective interest rate the banks pay for the money they loan to you on your credit card:  Zero.

Uh huh.  Zero.

Thanks, Obama administration/Federal Reserve!

 

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Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

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