The Fed is cutting rates. Interest on credit cards is still stubbornly high
The Federal Reserve started cutting interest rates in September of 2024. Since then, the average credit card interest rate has barely come down. CNN's Vanessa Yurkevich asks Bankrate's Ted Rossman when credit card rates might move lower and what people with credit card debt should do.
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The Fed's new quarterly projections suggest that consumers may not enjoy much lower rates next year for mortgages, auto loans, credit cards and other forms of borrowing.
