Headlines:
Snowmobiles accident with victims on Lac Saint-Jean, Canada: A group of snowmobilers plunged through the ice on Quebec's Lac Saint-Jean on Tuesday evening. Five people are mising and
Spiders in Australia are now a danger too: Until now, Australia has been ravaged by the worst wildfires seen in decades, with large swaths of the country devastated
First patient with the new coronavirus was found in the U.S.: First patient with Wuhan coronavirus was identified in the U.S. A man in his 30s in Washington State is infected.
Rock star Ozzy Osbourne has difficult health problems: Rock star Ozzy Osbourne, 71 old, has revealed he has Parkinson's disease. His problems started when he suffered a fall
The climate crisis is a central theme at World Economic Forum 2020: Activist Greta Thunberg is at the World Economic Forum in Davos. She said the climate crisis had changed not much.
Promising cancer treatment is at an early stage now: The Cardiff University team discovered a method of killing prostate, breast, lung and other cancers in lab tests but it
The new coronavirus discovered in China can be transmitted from human to human: An aggravated situation linked to thew coronavirus discovered in China was announced. In just 72 hours, more than 150 cases
Scientists from Finland produced a new natural protein to replace what we know and use: The way our food is produced can be revolutionized by scientists from Finland. A Helsinki-based company founded in 2017 says
Singer David Olney has died on stage: The American singer-songwriter David Olney, 71 old,  has died on stage mid-song during a performance at a festival in Florida,
Shooting with victims at a bar, music venue, in San Antonio: Seven people were shot Sunday night inside a club near River Walk, San Antonio, Texas, in the 1011 block of

Credit Card Rates Reach Record Highs

Keeping a clean credit rating may be a good idea after all, as interest rates are now playing around all-time high records, at an average rate of 14.72%. Rates could even go as high as 59.9% annual percentage rate, that is, if one has a really bad credit rating.

The interest rates are currently hovering on such skyrocketing figures because the CARD Act didn't help at all in capping the interest rates themselves, even if it stopped some hidden fees, prevented banks from raising interest rates and required them to disclose as to why they are lending at such exorbitant figures. In short, there is still no limit on the rates banks can charge new customers.

Card issuers know that they can't raise the rates once customers are issued a card, so they have to raise rates upfront to ensure revenues from that interest. According to the weekly data of CreditCards.com, annual percentage rates have surged more than 20% within the past two years. The rates even hit an average 14.78% in November last year, an all-time high record.

To the average American consumer with a bad credit score, this means that opening a credit card account is going to be horrible, if a person even qualifies for a card issuance. Interest rates depend on the card being applied for, but for those with below 599, they are most likely going to face a painful annual percentage rate of 24% or higher.

And there's no end in this problem. Though there have been legislative proposals to cap interest rates at a reasonable limit, none have been passed into law yet.

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