That's a rather high interest rate. And of course, if we don't pay it off, they're charging an additional 20% interest or more, on the remaining debt.
It's diabolical. There is no escape. 6/4!
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As well, The banks have arranged that with every purchase, we accept (and pay for, at 0.5-2% of the price of the item) a loan that lasts from two to six weeks (between purchase and payment of the credit card bill). 5/4

The cost of the various "loyalty" programs is also included in the sticker price, whether you use those programs or not. People who pay off their credit card bills every month may feel that they've avoided credit/loyalty card costs, but they haven't. 4/4

The price of everything we buy is increased by credit card charges, whether we use a credit card or not. People who pay for their purchases in cash are still paying the sticker price that includes the merchant's "swipe fees." 3/4

An opinion piece by Gary Sands in the Saturday Star business section clearly states that "Swipe fees are invisible to the consumer, but occur on every single credit card transaction, amounting to billions of dollars that impact prices for consumers." 2/4

A Canadian Press article in the Toronto Star for Nov. 27 blames "high living costs and rising unemployment" for record consumer debt, but the banks should also be recognized for their reprehensible plan to float the entire consumer economy on an ocean of debt, from which they profit endlessly. 1/4