Four Factors That Affect Credit Card Interest Rates

Credit card interest rates are affected by four different factors. These are credit rating, debt to income ratio, employment history and repayment history. Interest rates are normally connected with the US Prime Rate, the common national rate standard provided by the Federal Reserve Board or FRB. Your interest is being computed at the end of a billing statement period. This varies from one credit card holder to another. This will then be charged to you at the last day of your statement period. If you are good in managing credit, your credit card interest rates will be definitely lower.
Credit card companies look into your financial background when computing for interest rates. If you are in the habit of paying late, … (more) February 5, 2010

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