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When it costs almost $30 a year to spend $100
Oct 26, 2023

When it costs almost $30 a year to spend $100

Average interest rates for retail credit cards have soared to nearly 29%. How did they reach those heights?

Segments From this episode

Everyone say, "Thank you, Beyoncé and Taylor"

The U.S. economy keeps growing briskly, with Gross Domestic Product in the summer quarter clocking in at a bigger than 4.9% annual rate. If you spent money this summer, this was you at work. Diane Swonk, chief economist at the tax audit and advisory firm KPMG, joins to discuss. And yes, revenge spending-induced summer pop queen concert splurges were partially responsible.

UAW reaches a tentative deal with Ford

Ford and the United Auto Workers have reached a tentative contract, one that the union calls the most lucrative contract in decades. It could lead to an end to the Ford part of the strike and could help frame deals with GM and Stellantis.

Interest rates for retail credit cards reach all-time high

Oct 26, 2023
Rates now average nearly 29%, according to Bankrate. By comparison, the typical rate for a standard Visa or Mastercard is around 21%.
iStock/Getty Images

Music from the episode

Killing in the Name Rage Against The Machine

The team

Leanna Byrne Host, BBC
Kelly Silvera Executive Producer
Meredith Garretson Morbey Senior Producer
Erika Soderstrom Producer
Alex Schroeder Producer
Ariana Rosas Producer
Dylan Miettinen Digital Producer
Jesson Duller Media Producer
Nick Esposito Media Producer
Nic Perez Director/Producer
James Graham Producer, BBC
Jo Critcher Producer, BBC
Naomi Rainey Producer, BBC
Lis Mahy Producer, BBC