Just about every credit card on the U.S. market is tied to the Prime Rate. The Prime is currently at 8.25%, and according to the best predictions
out there, it most probably won't go any higher this year. It's a good idea to stay on top of what's happening with interest rates, especially if you plan on consolidating your credit card and other debts. Timing is everything!
For example, you may want to hold off on consolidating your debts if interest rates are on their way down. Consolidating when interest rates are low can end up saving you thousands of dollars in the long term, no doubt.
Labels: APR, interest_rates, prime_rate