64% of Arizonans fail to compare rates, fees on credit cards

2013-06-09T00:00:00Z 64% of Arizonans fail to compare rates, fees on credit cardsXi Chen Cronkite News Service Arizona Daily Star
June 09, 2013 12:00 am  • 

Two-thirds of Arizonans don't bother to comparison shop when looking at credit cards, which can saddle consumers with higher-than-necessary fees, interest rates and ultimately higher borrowing costs, according to a new report.

Arizona residents were only slightly worse than the rest of the nation, with 64 percent of state residents surveyed in 2012 saying they did not shop for credit cards, compared with 61 percent nationally.

It shows that America's financial literacy remains low and people need help to manage their personal finances, said the Financial Capability report released by the Financial Industry Regulatory Authority, a private nonprofit group.

Copyright 2015 Arizona Daily Star. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

What's hot

Featured businesses

View more...
Tucson.com newsletters

Sign up for Tucson.com e-mail newsletters

Sports news and blog headlines, delivered nightly.

Midmorning update of local business headlines, daily.

Tucson-area obituaries, daily.

Receive the current day's weather forecast in your email!