If you have gone on and taken a car, credit card or business credit from a bank, you must have wondered what the criteria is that they use to ascertain interest on various investments. Are the interest charges products of closed-door meetings within the bank’s halls or are they fixed by the Federal Reserve Bank? Why do the interest rates on loans vary from customer to customer? Why do credit card advances have such high-interest when compared to residence mortgage loans or automobile loans? 1.Competition Banks set up their own interest charges and are actually forbidden by U.S antitrust laws…