Credit card APRs are at an all-time high—and so are credit card providers’ profits. What’s behind the record-high rates? paper bank statement showing 23.9% APR with pen in background ...

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Business Credit card APRs are at an all-time high—and so are credit card providers’ profits. What’s behind the record-high rates?

At the same time, credit card providers can devalue your rewards at any time (which can also happen naturally with inflation) — so accumulating and hoarding points may not be in your best interest.

Synchrony Financial's chief credit officer told Reuters that most borrowers are repaying loans, but spending has dipped across income levels.

Card providers typically increase credit limits as businesses demonstrate good payment history and growing revenue. They also make it easy to add employee credit cards when hiring new staff.

Precisely because credit card providers are willing to make loans to buyers, retailers of all sizes are able to move quite a bit more merchandize than they otherwise would.

Consumers can’t get enough of credit card rewards Rewards have played a part in the growth of credit cards (and debt) by helping credit card providers attract and retain customers.