Major Banks Raise Lending Rates
NOTE:
To offer our weekly summary of credit card rates, Credit
Card Monitor, in your publication or on your Web site, please
contact syndicate@indexcreditcards[dot]com.
Major
Banks Raise Lending Rates
Following
the raise in federal lending rates announced on Tuesday, several
major banks raised their prime lending rates. Customers of these
banks who carry variable-rate credit cards soon can expect a
raise in their credit card interest rates.
Bank
of America, Citibank, HSBC and US Bancorp all announced quarter-point
raises to their prime lending rates, from 6.75% to 7.00%. Because
variable-rate credit cards increase or decrease based on banks’
prime lending rates, credit card customers of these banks can
expect a quarter-point increase in their rates within the next
couple of weeks.
Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.
This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.
Published (Modified )