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The fun had to end eventually; interest rates were at record lows for a while, and you could access credit at extraordinarily low rates. However, the market has changed, and interest rates have skyrocketed. How much have they changed? In 2021, the average annual percentage rate (APR) for credit cards that assessed interest was just 16.45%. The average rate is 22.77% — a 38% increase over two years.
Learning how to lower your credit card interest rate is critical to reduce your interest charges and save.
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