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Saving Advice
Saving Advice
Lifestyle
Teri Monroe

A Quiet Banking Rule Change Just Increased Some People’s APR

credit card APR increase
Image Source: Shutterstock

Many consumers are discovering that their credit card APRs increased this winter, and most had no idea about the changes behind it. Winter is a season when people carry higher balances, making these increases especially painful. Retirees and fixed‑income households say the timing feels particularly harsh. Here’s what you need to know.

Banks Are Now Allowed To Adjust APRs More Frequently

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