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Credit cards spiking interest rates, but cutting fees

ST. LOUIS- Only paying the minimum payment on your credit card?

That left-over balance could be costing you more than you know. According to a survey on creditcards online, the interest rates on credit cards has risen sharply this year. The average rate is now more than 17 percent.

That means paying late, carrying a balance or taking out a cash advance is going to cost you more.

Although, researchers say that most cards have lowered their other fees such as annual maintenance fees or foreign transaction fees.