Interest rates vary widely. Some credit card loans are secured by real estate, and can be as low as 6 to 12% in the USA (2005). Typical credit cards have interest rates between 7 and 26% in the USA (2005), depending upon the borrower's credit history. Typical credit limits are $200 to $20,000 on unsecured loans, and can be any amount up to the equity in real estate ($1000 to $200,000 being a typical range) on a secured loan. Interest rates in developing countries are typically far higher, with rates of 150% per year not being uncommon. Brazil has even higher interest rates, about 50% over that of most developing countries, which average about 200%. A bank-issued Visa or Mastercard to a new account holder can have annual interest as high as 240%, even though inflation seems under control at around 6% per annum (Economist, May 2006). These accounts have typically very low credit limits (USD$40 to $400), and are used for convenience and quick payback. They also often offer a grace period with no interest until the due date