Visa Bad Credit Credit Cards – Chase, Citi, Bank of America and Wells Fargo Interest Rates Remain Stable on July 23
Posted on | July 23, 2011 | Comments Off
With a national unemployment rate of 9.2% and an unemployment rate and many states in the double digits it comes as little surprise to see many hard-working Americans seeking financial assistance through loans or credit cards. Some of these individuals will seek visa bad credit credit cards as a way to gain extra access to cash during the summer months of 2011.
As of July 23, 2011 the 10 year treasury rate yield is slightly below 3% which means that interest rates are stable near historic lows. Major banks including Chase, Citi, Bank of America and Wells Fargo continue to report interest rates at attractive levels for borrowers who have made very strong financial decisions over the past several years.
Unfortunately, many hard-working Americans have made poor financial decisions due to their circumstances. With this being true they may have to seek bad credit credit cards with higher interest rates. Some interest rates could be as high as 20% or more for individuals who have a credit score that is well below 700.
With this in mind it may be a wise choice to pay down high interest rate unsecured debts before borrowing any type of money. By paying down high interest rate credit cards or personal loan some individuals could see their credit score increased by as much as 100 points. This in turn would allow them to save a significant amount of money with lower interest rates on any money they borrow in the future.
While Bank of America, Chase, Citi and Wells Fargo are four of the largest financial institutions in the United States it is important for all Americans to recognize that there are many options when it comes to credit cards. The FDIC currently insures over 7000 financial institutions and many of these financial institutions offer plenty of options when it comes to borrowing money on credit.
Author: Alan Lake
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