Credit card interest rates are climbing nonstop, even though the Fed has already cut its benchmark rate three times in 2024 ...

The Senate passed the GENIUS Act without the Credit Card Competition Act or the 10% APR interest rate limit amendments. The ...

A credit card statement details your credit usage, spending habits, and payment obligations. Understanding it is crucial for ...

Another way you can help convince your credit card issuer to give you a lower APR is by presenting some other credit card ...

This is known as the 'purchase rate'. Some cards come with 0% deals on purchases, where you don't have to pay any interest on spending for a set period, but if you don't have a promotional deal it's ...

When the Fed cuts interest rates, variable rate credit cards are affected in a similar way. That's because card issuers base interest rates off the prime rate , which is directly influenced by the ...

The average commercial bank interest rate on credit card plans across all accounts was a very steep 21.37% as of February 2025, according to the latest data from the Federal Reserve Bank of St. Louis.

So getting back to your credit card’s interest rate — the reason it’s so high now is because the Fed raised rates numerous times in 2022 and 2023 to try to bring inflation down.

More and more people who are filing for bankruptcy have retail credit card debt, and those bills are getting harder to pay off with record-high interest rates.