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Surprise! New Credit Card Legislation Pushed Interest Rates To 22-Year Highs

The spread on credit card interest–the difference between the interest rate on your charges, and the Treasury benchmark rate–is the highest it’s been in 22 years.  The culprit?  The CARD Act, which has given banks much less flexibility in the fees they charge.  Banks now have to give you 45 days notice before they raise [...]