Annual percentage rate never changed even if holiday is fast approaching

This week, the interest rates on new credit cards being offered by various credit card companies never changed even if lots of people made their purchases in the recent thanksgiving sale using their credit cards. This is according to a credit card report conducted by a website in the US. The APR which is the same as the annual percentage rate stayed intact at 14.99%. While the rates are high, they remained to be stabilized. The national APR remained at the same rate over the past weeks or it is safer to say that it never changed in the past weeks or so.

There is nothing new in the stability of the interest rating this 2011 and that was since 2007. It was noted by a credit card company that is also keeping track of the APR rates that they also offer. Regardless of the thanksgiving holiday sale, the APR never changed and for the past 2 years, it stayed the same even during Christmas time. According to an expert, it will be best to analyze and fully understand APR through an illustration. In 2009, APR in the national region was fixed at 12.71% week before the thanksgiving sale. After Christmas time, it went up to around 12.99% which is higher for that same year as well.

According to credit card issuers, creditors know that people would likely to spend more during holidays and breaks than other time of the year. Lots of people are also applying for credit card supplements to sustain all of their needs and spending during the holiday season. This may be true according to an expert but it is also not for some people who want to use cash or other means other than credit cards. Sticking to holiday budget is still the best according to a recent report than going over board and worry about debts later on in life. This upcoming Christmas season is still unexpected when it comes to spending. This may be incomparable from that of last year. Around 96% of people are expected to use their credit cards to make purchases according to an expert.