SmallBusinessNewz

Small Biz Credit Card Rates On The Rise

The recession has caused many industries to become quite competitive, and it might be natural to assume that the credit card industry would follow that trend.  Unfortunately, a study has determined that interest rates on small business credit cards have risen an intimidating amount this year.BillShrink, a sort of finance-related search engine, said in a statement, "In the run up before the CARD Act, one-third of issuers raised consumer card rates upwards of 20-30%, with an average overall rate increase of 16%."