No, because as soon back as 2006, the prime rate was 8.25% and as close back as 1990, the prime rate was over 10%. Those were both prosperous times, if you believe that the economy will ever get back to pre-recession performance, then the prime rate will (logically) follow.
I can not imagine a bank giving you an 9.99% fixed APR when they are borrowing money at 8.25% (circa 2006). Banks (stockholders,employees) will not settle for a whopping ANNUAL 0.74% profit margin on your personal CC. That's around $1.25/Mo interest on a $5000 balance. Take out the 41c it cost them to mail you your statement, and they are left with less than $1 profit every month per cardholder.....that doesn't work out.
That's why I say: NO. But....it wouldn't be the first time I'm wrong. time will tell....!
I can not imagine a bank giving you an 9.99% fixed APR when they are borrowing money at 8.25% (circa 2006). Banks (stockholders,employees) will not settle for a whopping ANNUAL 0.74% profit margin on your personal CC. That's around $1.25/Mo interest on a $5000 balance. Take out the 41c it cost them to mail you your statement, and they are left with less than $1 profit every month per cardholder.....that doesn't work out.
That's why I say: NO. But....it wouldn't be the first time I'm wrong. time will tell....!
