interest rates

Sep

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Finance, Entertainmentfinance, interest rates, investment, save money

Interest Rates: Why Do They Matter if they’re Lower Than Ever?

Interest rates are now at their lowest levels in decades and this means that they're not as high as they once were, but the long-term effects are still negative. This article explores the impact of interest rates on the economy, how much lower it can get before it starts to have an effect, and what happens when rates hit zero. What is an Interest Rate? The interest rate is the price of borrowing money. It's important because it affects how much you pay back on a loan, how much you earn on a savings account, and how much you can…

Jun

By Olivia Bradley

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BusinessAPR, credit card, interest rates

How does the credit card APR work?

Credit card interest charges are waived from the time you make a purchase. In fact, you can avoid interest charges altogether by paying your bills in full each billing cycle. When you open a new credit card account, the creditor assigns you an annual percentage rate based on your credit score.However, most credit cards have variable interest rates. This means that your account rate may change if the Federal Reserve changes its benchmark rate. When the Federal Reserve raises rates, your credit card rate can almost certainly follow that upward trend, even with good credit.Interest charges only apply if you…