Rumblings Of A Plastic Rate War

The credit-card wars seem to reach new levels of bellicosity almost daily. On June 17, yet another company, Ford Motor Co., announced that it will introduce its own credit card into the fray. The battle thus far has been waged mainly over considerations such as annual fees and special enhancements. The one key feature the combatants haven't tussled over: interest rates on unpaid balances, which remain at 19.8% for most major issuers.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.