credit card APRs

credit card APRs

How Does Credit Card Interest Work?

February 5th, 2014 by Alice Bryant

If you have a credit card, you’ve heard of interest. But you may not know exactly how it works. Many consumers operate without actually knowing how the interest on their credit cards is calculated. But it is important to understand how interest works, so you can be an educated consumer and use your credit card effectively.

Fed's Operation Twist Won't Affect Credit Card Rates

September 22nd, 2011 by Joshua Heckathorn

Federal Reserve The Fed didn't raise interest rates yesterday, but it did announce its next attempt to give our lumbering economy a much-needed kick in the butt. Dubbed "Operation Twist", the Fed aims to lower long-term interest rates by selling about $400 billion in short-term government bonds and then using that money to purchase longer-duration bonds like mortgage-backed securities.  The name stems from a similar Fed effort back in 1961 when Chubby Checker's song "The Twist" was at the top of the charts.  It kind of worked back then, so the Fed is hoping for the best this time around.