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The El Paso

As interest rates climb, your credit card debt becomes a silent wealth tax

As interest rates climb, your credit card debt becomes a silent wealth tax
Photo: KVIA ABC-7 · view original

By Ed Durant for BHG Financial With good credit and steady cash flow, carrying a balance on a credit card can feel like a reasonable trade-off. In a higher-rate environment, however, APRs north of 20% make that trade-off far more expensive because revolving balances at those rates compound faster...

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