Credit Card and Special Check interest rates have changed for this year 2020. With these new changes, in this article you will be well informed of what is happening in the financial market.
Every day we see changes in the economic sector of the government that directly affect the commercial transactions of financial operators, today we will talk about a subject that should be the object of attention of all of us.
Second, special report by Exame Magazine, the average revolving credit card rate increased by 0.7 points in relation to October, reaching 318.3% per year; the overdraft also rose 0.7 points, but that's not it.
Credit Card Interest
The average rate is formed based on consumer data, but for those customers who are in good standing, who pay at least the minimum amount of the card bill on time, the rate reached 293.9%.
However, the rate charged to customers who did not pay or were late in paying the minimum invoice payment (non-regular revolving) interest dropped by 3.7 percentage points, going to 334.3% per year.
Credit card revolving rose 0.7 percentage points in relation to October, reaching 318.3% per year, a true absurdity!
Finally, the revolving credit is the credit taken by the consumer when he pays less than the full amount of the card bill. Revolving credit lasts 30 days. After this period, the financial institutions pay the debt in installments.
It is important to organize personal finances so as not to get into debt both with credit card revolving and overdraft. The changes have already taken effect since the beginning of the school year. Therefore,
For more information on this subject or to check out the cards with the lowest interest rates, click here and read an exclusive article in its entirety.
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