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And even if they do lower rates, credit cards will still have high interest rates overall. The current average is 22.76% on credit cards that are assessed interest, according to Federal Reserve data.
4. Call your issuer and request a lower interest rate. While it won’t eliminate interest entirely, you might find that calling your credit card issuer can result in a lower interest rate ...
The Fed cut its benchmark short-term interest rate, the federal funds rate, by a full point in 2024 and the average credit card rate has only dropped from 20.74 percent at the start of 2024 to 20. ...
Amid surging credit card interest rates and rising delinquencies, a bill with bipartisan support would cap rates at 10%, about half the current average, for five years. The legislation would ...
Knowing how to lower credit card interest rates — by switching cards, raising your credit score or contacting your credit card issuer — is an important financial skill.
With average credit card interest rates at an all-time high, snagging a lower rate could help reduce the interest you pay and enable you to get out of debt more quickly.
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