For those who opened new credit card accounts in January of this year (2013), the interest rates offered were at a comparative standstill, according to CreditCards.com. The average APR on new accounts remained at 14.96%, carrying over a two month trend from Q4 2012.
2012 was the most stable year on record for credit cards, with average rates on new credit card offers unchanged for 36 weeks. By comparison, the second most stable year ever — 2011 – saw average rates unchanged for 25 weeks.
But then, reality hit. While we’ve seen two years of solid, reliable interest adjustment activity, interest rates on credit cards are now up to 15.15%, and they will likely continue to rise. This is all the more reason to forego opening another credit card account and going with a low interest military loan instead.
As the market has shown us over the past five years, you never know what the economy is going to do. Sometimes these glitches and calamities can leave you making out like a bandit – for example, the guy that cashed in all his gold and then bought thousands worth of stock in 2009. This guy is worth millions now, as the DOW has rebounded. Conversely, you have the guy that lost his job and couldn’t find another one, so to pay his rent, and instead of buying stocks low, he had to sell his low for income. Now he’s got nothing.
You never know which one of these guys you’re going to be closer to. The stock market, credit cards, and everything else always seems to be so unstable. These loans are low interest and stable, and they are available to you regardless of market fluctuation because of your service in the military. All reserved, active, and retired personnel are eligible. If you are the victim of the economy, you’re still eligible, because these loans are just as available to those with bad credit as they would be to someone with an 800 score.
