Name: Credit card interest rates reach historic highs
Uploaded: 2022-10-07T00:27:57Z
Channel: TEGNA

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Credit card interest rates reach historic highs

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The Federal Reserve has raised interest rates a historic five times this year. This isn't just impacting the housing market, but credit card users as well. According to the finance website CreditCards.com, the national average card annual percentage rate rose to 18.79% on Wednesday. That figure is at an all-time high. But those increases may not be done just yet. Unlike mortgage rates, which you are locked into, credit card companies can routinely change rates on market conditions. FULL STORY: https://www.cbs8.com/article/money/economy/historic-credit-card-interest-rates/509-158cab99-15a4-4579-b786-96750ec0c11b

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KFMB

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local money news

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