Credit Cards and Debt Collectors: A Double Yikes for Consumers

COMMENTARY | Six months ago average credit card interest rates were 14.75 percent, says ABC News. Today, the average credit card interest rate is 15.14 percent. For customers with poor credit scores, the rates can be as high as 25 percent. To make matters more interesting, banks and debt collectors have started teaming up to offer credit cards to customers with old debt.