What is The Interest Rate on Your Credit Card Debt?

[Jon Miller]

Generally 0.

Because of things like moving expenses and paying off my car, currently I have a ballances on cards with 10% and 20%.

I really should try to get another card with 10%.

JM

[Japher]

If I were to carry a balance it would be 18-19%

Since I don't it's 0%

Credit Cards are the devil. I don't use them because I can't even remember to pay them every month, I'm horrible at that. So, I follow a budget and contribute to an emergency fund that sits in an ING account. I also budget monthly contributions to investment savings.

For the record, I own a house, have 2 kids, and don't make a lot of money. People in general just spend too much.

[Dauphin]

Don't know about elsewhere, but here there are some very useful consumer protections when using a credit card that you won't get with a debit card or cash payments.

[Jon Miller]

Yeah, that is why I use my CC card when I pay off everything every month.

JM

[Sir Og]

0%. I pay off in full each month.

For credit cards here, the credit history really only matters in respect of credit limit, rather than interest rate.

+1

I think that the average for Bulgaria is ~18%.

[onodera]

0. I don't have one. I'll probably get one for my trip to Europe, as the bloody hotels like to block a grand on your card, which is really annoying when it's a debit card. The interest rate in the bank I work for is 22.9% (that's employee rate), I think.

[rah]

15.9 if I ever carried a balance, which I haven't in over 15 years.
Yes as noted there are considerable protections afforded to those that use a CC over Cash.
And Over the years my reward points have been used to buy 3 computers. 2 desktops and one laptop.

[Lorizael]

18%, which was fine when I didn't carry a balance, but is not so great now that bad financial decisions have me swimming in debt.

[Asher]

line! of! credit!

[KrazyHorse]

The APR on my CC is so low that it's practically a line of credit.

[rah]

I chose the higher interest rate for the better reward dollars deal. A real no-brainer decision since I never carry a balance.

[Lorizael]

line! of! credit!

In what way would that be functionally different from a credit card?

[KrazyHorse]

Lower rates, usually.

Also, you can withdraw cash from it without paying punitively high rates.

[Asher]

Much lower interest rates.

99% of the time it's far cheaper to carry a balance on the LoC and use the LoC to pay off the credit card balance.

[KrazyHorse]

I doubt I could get a loc at less than 9%, while my CC isn't much higher than that.