Record-High US Credit Card Rates Create Opportunity to Refinance
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The spread between rates on US credit cards and personal loans is hovering near the widest on record, implying that consumers could see massive interest savings by transferring their credit card debt.
Unsecured personal loan rates consistently remained around 2 percentage points below credit card rates from 1985 to 2015 but in the past year the difference has soared to more than 10 percentage points.