Sugar Editorial Picks
May 26, 2009 -
The APR on your credit card determines how much interest you'll be charged on your balances. So why pay more if you don't have to? If your credit score reflects your ability to use credit responsibly, then you should at least have an APR equal to other borrowers with your score.
- 1 Comment
Mar 16, 2009 -
It's simple: the higher your credit score, the lower the interest rates accessible to you. Now that lenders have started being more attentive to the credit histories of potential borrowers, there's one more reason for you to pay more attention, too. Once you know your credit score, you should do everything you can to raise your number so that you save as much money as possible on interest rates.
- 13 Comments
Aug 22, 2008 -
Dear Savvy,
I currently am trying to pay off a high revolving balance on my Citibank MasterCard. I have a good credit rating (730-740) and am current on all my bills with no late payments. My current credit card interest rate is 14.99 percent.
- 17 Comments
Other Search Results
May 01, 2008 -
Yesterday the Federal Reserve announced its seventh interest rate cut since September, lowering the federal funds rate by a quarter-point to 2 percent. Interest rates are now at their lowest since 2004 and reflect the Fed's ongoing concern about a weakening economy. The prime lending rate that affects consumers and businesses dropped correspondingly, which could have a positive effect on some credit cards and loans.
- 3 Comments
Jan 03, 2008 -
It's a big deal whenever the Federal Reserve decides it's going to cut rates, and not in the pretend way that Christian on Project Runway thinks he's a big deal. Think of the Fed as a really powerful puppeteer with Chairman Ben S. Bernanke as the leader, and instead of controlling weird puppets, they determine courses of economic action.
- 4 Comments
Apr 22, 2009 -
All credit card rates are not created equally, whether it's due to your credit history, the carrier's unwillingness to budge on rates, your apprehension to ask for a lower one, etc. Most of you have one to three credit cards, and even among those your rates may vary. What's the interest rate on the credit card you use most?
- 16 Comments
Apr 07, 2008 -
According to the American Bankers Association, the average interest rate on savings accounts has dropped to just .47 percent. The Federal Reserve interest rate cuts may help those homeowners with adjustable-rate mortgages to pay lower interest rates, but the rates on savings accounts have taken a hit as the Fed has taken its actions.
The New York Post came up with this eye-opening example that makes clear just how ineffective some savings accounts can be for someone trying to save.
- 4 Comments
Jan 11, 2008 -
Federal Reserve Chairman Ben Bernanke's speech yesterday was inconclusive, but he suggested that the Fed is prepared to cut the current short term interest rate by half a percent to keep the economy on track. This would bring the rate down from 4.25 percent to 3.75 percent and implies that he considers weak growth a threat to the economy. The Chairman said,
"The outlook for real activity in 2008 has worsened and the downside risks to growth have become more pronounced.
- 10 Comments
Mar 18, 2008 -
The Federal Reserve cut its federal funds rate this afternoon to 2.25 percent, making its sixth cut in the last six months. A weakening labor market, slowdown in consumer spending, a loss of confidence and crisis in financial markets, and a tight credit market were reasons the Fed used to support this most recent cut. Acknowledging the issues of inflationary pressures alongside a slowing economy, they stated "Uncertainty about the inflation outlook has increased.
- 5 Comments
Mar 17, 2008 -
In an attempt to avoid a financial market meltdown in the US, the Federal Reserve made an emergency rate cut on Sunday. The quarter percentage point cut applies to the discount lending rate to financial institutions, bringing the short-term lending rate from 3.5 percent to 3.25 percent. This cut only covers short-term loans that banks receive from the Federal Reserve and doesn't include loans to individual borrowers.
- 1 Comment