Read about my passion for credit card applications
According to a recent survey, the national average interest rate for credit cards right now is 12. 1 percent. That translates to more money owed if you do not pay your balance in full each payment period. A lower credit limit for those who carry a balance means a higher debt to credit ratio, which can adversely affect their credit scores. Banks no longer want to carry the risk of those who need credit cards for bad credit.