Extra Credit: Retail Card Interest Rates Soar

Episode Transcript

Speaker 1 (00:00):
A new bank rate survey finds the average retail credit
card interest rate is still over thirty percent, with some
cards topping out at thirty six percent. Certified financial planner
Bill Dendy says, if you have one of those cards,
you should avoid carrying a balance.

Speaker 2 (00:13):
For paying thirty percent per year. You know, in two
and a half years we could have bought two of
whatever we purchased. So we're stealing from ourselves if we
use credit in this way, especially those high interest rates.

Speaker 1 (00:25):
The highest interest retail cards include Academy Sports Sachs and
Victoria's Secret Corey Jolson, Who's Radio seven forty KTRH.