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While we've discussed making a New Year's resolution to keep track of our credit ratings, I think we should also think about doing some credit card shopping.

Credit card rates are higher than any other loan with an average interest rate of 19%, higher than any other consumer rates because the "loan" is unsecured.

This is a far cry from the interest rates banks pay to borrow. The rates banks pay has been falling. One reason for the disparity is that the industry has been losing money through delinquencies and marketing, but it just seems to inequitable. Once again, the most prudent thing to always strive for is to pay off that balance every month.

Shop around for best rate, and always assume you won't be paying off your balance every month...just in case. It's just a Foolish thing to do.

Happy Holidays!

...but I still am...

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