What is the default rate of credit cards?

Answer Default occurs when a credit card holders fails to make payments according to the cardholder agreement. Consumers have defaulted on credit cards at record levels in 2009. Default rates vary by co... Read More »

Top Q&A For: What is the default rate of credit cards

How many people default on their credit cards?

About 8 percent of Americans with credit cards, or about 15 million, default on their credit cards each year, according to a March 16, 2009, article by Reuters.SourceReuters news service

What Is the Prime Interest Rate on Credit Cards?

Prime interest rate is a term used to describe a common index that many different lenders, such as banks, use to make their decisions. This rate does not affect every decision, but it does cause fa... Read More »

What can you do about high interest rate credit cards?

If you have been noticing that your credit card payments are going up without you using your card, it may be time to take a look at your interest rate. Credit card companies will raise your credit ... Read More »

What is the national average interest rate for credit cards?

As of March 2010, the national average fixed interest rate for credit cards is 13.42 percent, according to The variable interest rate is 13.99 percent. These interest rates are the AP... Read More »