Retail credit card APR rise past 30%

In your consumer news, if you have a store-branded credit card, you might want to double check the APR before you use it again.

CNN— In your consumer news, if you have a store-branded credit card, you might want to double check the APR before you use it again.

According to a credit analyst for Lending Tree, at least a half-dozen major retail cards — including Kroger, Bloomingdale’s, Macy’s, Shell, Exxon Mobil and Wayfair — recently bumped up their maximum APR’s to more than 30%.

High inflation is forcing American consumers to rack up more debt and to lean on credit cards.

Categories: National News, News