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A comment on Bank of Canada increases overnight rate target to 1 per cent. Parent comment
In the US, credit cards are often a fixed + prime rate, so changing national bank interest does affect credit card rates.
As as aside, ~20% is an insanely high rate for credit card purchases (again, in the US).
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In the US, credit cards are often a fixed + prime rate, so changing national bank interest does affect credit card rates.
As as aside, ~20% is an insanely high rate for credit card purchases (again, in the US).