US credit card interest rates surge to record-breaking highs of 23.4% in August
Share link:In this post: According to the Kobeissi Letter, U.S. credit card interest rates soared to an all-time high of 23.4% in August. Debt in the jurisdiction hit a new record of $1.36 trillion for U.S. borrowers, yielding an annual interest rate of $318 billion. Despite the Fed cutting rates by 50 basis points in September, interest rates remain unbadged.
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