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Why Are Credit Card Interest Rates Still So High Right Now

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  • The Fed cut interest rates but mortgage costs jumped. Here's why

    The average 30-year fixed mortgage rate spiked after the Federal Reserve cut rates. Experts say expectations for rate cuts in 2025 fueled the jump.
    CNBC - 17h

  • The Fed’s rate cuts were supposed to make borrowing cheaper. So why is it harder than ever to buy a house?

    The Federal Reserve’s interest-rate cuts have done little to help home buyers and sellers.
    MarketWatch - 1d

  • The Fed cut rates again — but don’t expect your credit-card APR to get much lower anytime soon. Here’s why.

    Interest-rate cuts are supposed to lower borrowing costs, but that’s not necessarily happening for credit-card users.
    MarketWatch - 1d

  • Will credit card rates climb in 2025? Experts weigh in

    Credit card rates could fall, but the amount card rates could drop by may surprise you. Here's why.
    CBS News - 2d

  • Despite APRs that can top 30%, some shoppers still like retail credit cards over buy now, pay later plans

    Some shoppers prefer retail store credit cards over buy now, pay later loans. Either way, here's what you need to consider.
    CNBC - 2d
  • Despite Fed cuts, many store credit cards are still charging customers extreme interest rates

    Despite Fed cuts, many store credit cards are still charging customers extreme interest rates

    Many credit cards offered by major retailers continue to charge exorbitant annual percentage rates (APRs), despite moves by the Federal Reserve to lower interest rates in the economy.
    NBC News - 2d
  • How Fed Rates Influence Mortgages, Credit Cards, Savings and More

    How Fed Rates Influence Mortgages, Credit Cards, Savings and More

    Here’s how the central bank’s interest rate moves influence car loans, credit cards, mortgages, savings and student loans.
    The New York Times - 2d
  • Bracing for a Fed Pullback on Interest Rates

    Bracing for a Fed Pullback on Interest Rates

    Wall Street sees the central bank cutting interest rates on Wednesday. But growing worries about inflation are adding to investor uncertainty about its policy agenda for 2025.
    The New York Times - 3d
  • UK inflation hits eight-month high of 2.6%, fuelling calls to hold interest rates

    UK inflation hits eight-month high of 2.6%, fuelling calls to hold interest rates

    Annual increase in November driven by rising cost of petrol and groceries and hike in tobacco duty in budget. UK inflation data leaves Starmer miles off goal of growth ‘felt in people’s ...
    The Guardian - 3d

  • What to know about HELOC interest rates right now

    HELOC interest rates have been declining for much of 2024. Here's what prospective borrowers should know now.
    CBS News - 4d

  • How are credit card interest charges compounded?

    Understanding how credit card interest charges compound is an important part of avoiding serious debt issues.
    CBS News - 4d
  • It's called Fartcoin. It's totally useless. So why is it now worth $700 million?

    It's called Fartcoin. It's totally useless. So why is it now worth $700 million?

    Yes, it’s called Fartcoin.
    NBC News - 6d

  • Why experts are telling people not to trade in their cars right now

    State-of-the-art technology and luxury make trading in your clunker for a new car very tempting. But experts say crunch the numbers first. Elise Preston explains.
    CBS News - 6d
  • Moody’s Downgrades France’s Credit Rating

    Moody’s Downgrades France’s Credit Rating

    The action, which will put pressure on the nation’s borrowing costs, reflects doubt that a new government can mend the deteriorating financial situation.
    The New York Times - Dec. 14
  • Microsoft’s AI Recall Tool Is Still Sucking Up Credit Card and Social Security Numbers

    Microsoft’s AI Recall Tool Is Still Sucking Up Credit Card and Social Security Numbers

    Plus: The US indicts North Koreans in fake IT worker scheme, file-sharing firm Cleo warns customers to patch a vulnerability amid live attacks, and more.
    Wired - Dec. 14

  • 3 credit card interest rate mistakes that are costing you money now

    If you're making these card rate mistakes, you're probably paying too much for your credit card debt.
    CBS News - Dec. 13

  • How are credit card minimum payments calculated?

    Knowing how your credit card minimum payments are calculated can help keep you out of serious financial trouble.
    CBS News - Dec. 13

  • CNBC Daily Open: Inflation’s still high — but so is the stock market

    It’s important to keep stocks’ performance this year in mind even as investors wonder what it’ll take to get inflation numbers lower.
    CNBC - Dec. 13

  • 3 expensive credit card debt forgiveness mistakes to avoid right now

    If you're trying to have your credit card debt forgiven, make sure to avoid these big (but common) missteps.
    CBS News - Dec. 12

  • Why are prices still stubbornly high?

    The annual inflation rate in the U.S. ticked up slightly in November. The Bureau of Labor Statistics reported that the Consumer Price Index for all items rose 2.7% in the past year, which was in ...
    CBS News - Dec. 11
  • Why some credit card APRs are rising even after the Fed slashed interest rates

    Why some credit card APRs are rising even after the Fed slashed interest rates

    Most credit cards have a variable rate with a direct connection to the Federal Reserve’s benchmark.
    NBC News - Dec. 10
  • Why I Still Send Holiday Cards — and You Should, Too

    Why I Still Send Holiday Cards — and You Should, Too

    They serve a social function that’s surprisingly important.
    The New York Times - Dec. 9

  • The Fed slashed interest rates, but some credit card APRs aren't going down. Here's why

    Although the Federal Reserve started slashing interest rates in September, the average retail card rate has only gone up.
    CNBC - Dec. 9

  • Why Powell and the Fed should pause interest-rate cuts in December

    Some say November’s jobs data support holding monetary policy steady.
    MarketWatch - Dec. 7

  • U.S. consumer credit jumps in October as credit cards drive purchases

    Total U.S. consumer credit surged in October, rising by $19.2 billion — the fastest pace since July.
    MarketWatch - Dec. 6
  • Why Luis Robert should be a top trade candidate: White Sox center fielder still has huge upside for right team

    Why Luis Robert should be a top trade candidate: White Sox center fielder still has huge upside for right team

    With few true center fielders available on the free market, Robert could be the best option
    CBS Sports - Dec. 6

  • HELOC interest rates fall to new 2024 low: Why you shouldn't wait to apply

    With HELOC rates dropping to a 2024 low, it may not make sense for borrowers to wait longer to apply. Here's why.
    CBS News - Dec. 5

  • Can I still use my credit card after debt consolidation?

    You may be able to use your credit cards after consolidating, but that isn't always the best financial move.
    CBS News - Dec. 5

  • 3 credit card debt relief strategies to consider for 2025

    If you want to break the credit card debt cycle in the new year, these strategies could come in handy.
    CBS News - Dec. 4
  • Why Rules On Data Scammers and Credit Card Fees May Be the Consumer Financial Protection Bureau’s Swansong

    Why Rules On Data Scammers and Credit Card Fees May Be the Consumer Financial Protection Bureau’s Swansong

    The CFPB is meant to act in the best interest of the American consumer, but powerful corporate opposition and the ire of Elon Musk may mean a dicey future for the agency.
    Inc. - Dec. 4

  • How to keep your credit card debt low during the holidays

    Swiping that plastic can be tempting when shopping over the holidays. Here's how to avoid it.
    CBS News - Dec. 4

  • 3 ways seniors can lower their credit card debt in 2025

    If you're a senior with high-rate credit card debt, it helps to start exploring these three options now, before 2025.
    CBS News - Dec. 3

  • What credit card debt relief options work best with bad credit?

    A damaged credit score can complicate the debt relief process, but you still have plenty of options to consider.
    CBS News - Dec. 3

  • How can I avoid paying interest on my credit card?

    Interest charges can cause your balance to balloon quickly, but these strategies can reduce those extra costs.
    CBS News - Dec. 3

  • Banks hit credit card users with higher rates in response to regulation that may never arrive

    CFPB regulation meant to save consumers $10 billion a year has resulted in higher costs for some, as banks react by hiking interest rates and charging new fees.
    CNBC - Dec. 3
  • Banks hit credit card users with higher rates in response to regulation that may never arrive

    Banks hit credit card users with higher rates in response to regulation that may never arrive

    Banks that issue credit cards used by millions of consumers raised interest rates and introduced new fees over the past year in response to an impending regulation that most experts now believe ...
    NBC News - Dec. 3

  • Fed’s Waller says he supports interest-rate cut at next meeting — for now

    Federal Reserve Governor Christopher Waller said Monday that as of today, he supports an interest-rate cut at the central bank’s next meeting in a little over two weeks.
    MarketWatch - Dec. 2

  • 3 reasons to consider credit card debt forgiveness this December

    This month could be an ideal time to settle your credit card debt for less than what you owe. Here's why.
    CBS News - Dec. 2

  • Gold hit record highs this year as real yields climbed. Here’s why the rally is so unusual.

    A gold rush by central banks could help lift prices as high as $2,900 by the end of 2025, Wells Fargo Investment Institute said.
    MarketWatch - Dec. 2

  • Will credit card interest rates fall this December?

    Credit card rates are sitting at a record high right now, but will they drop lower this month? Here's what to know.
    CBS News - Dec. 2
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