Credit Card and Special Check interest rates have changed for 2020. With these new changes, in this article you will be well informed about what is happening in the financial market.
Every day we see changes in the government's economic sector that directly affect the commercial transactions of financial operators. Today we will talk about a subject that should be the object of attention for all of us.
Second, special report from Exame Magazine, the average credit card revolving rate rose 0.7 points compared to October, reaching 318.3% per year; the special check 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 with the minimum payment on their bill (non-regular revolving credit) fell by 3.7 percentage points, to 334.3% per year.
The credit card revolving credit rose 0.7 percentage points compared to October, reaching 318.3% per year, a real absurdity!
In short, revolving credit is the credit taken out by the consumer when he pays less than the full amount of the card bill. Revolving credit lasts for 30 days. After this period, financial institutions divide the debt into installments.
It is important to organize your personal finances so as not to get into debt due to credit card revolving debt or overdraft. The changes have already come into effect since the beginning of the school year. Therefore,
To learn more about this topic or check out the cards with the lowest interest rates, click here and read an exclusive article in full.
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