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As interest rates climb, your credit card debt becomes a silent wealth tax

Katherine Langford
Editor-in-Chief · Monday, November 2, 2026 at 7:45 PM · 1 min read
As interest rates climb, your credit card debt becomes a silent wealth tax — Mount Pleasant Community news

BHG Financial reports that rising credit card APRs, now averaging 22%, act like a “wealth tax,” redirecting funds that could otherwise save or invest.

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