How to Calculate Your Credit Card Interest Rate

The average credit card interest rate now, according to Forbes advisor is 24.69%. Let's just round up 25%. 25%, right? 25% interest. You're paying 25%. It's insane. And this example here that I think is very, very telling. If you have $7,500 in credit card debt and let's just say, you know, interest rates were back where they were at 15%, it would take you approximately 6.7 years to pay that off if you paid $150 a month,. That would be $4,300 in interest paid. Now, let's increase that interest rate to 20%, right? Which is still below the average of what people are

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