Credit card interest rates are too high but we only have ourselves to blame

By Peter Martin
Updated October 13 2016 - 10:23am, first published September 25 2016 - 12:00am
In 10 years the average low-rate card charge has gone from 10.8 per cent to 12.7 per cent. Photo: Louie Douvis
In 10 years the average low-rate card charge has gone from 10.8 per cent to 12.7 per cent. Photo: Louie Douvis

If the Reserve Bank's official cash rate is 1.5 per cent and home loans are 4.4 per cent, why are credit card rates as high as 20 per cent?

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