Based on the latest expectations for Fed rate cuts, I'd predict that the average credit card interest rate of 22.76% will fall to 21.76% by the end of 2024 and to 20.26% by the end of 2025.

The average credit card interest rate stands at 20.35%, just slightly below a record-high of 20.79% attained in August before the Fed began cutting rates, Bankrate data showed.

People don’t like to talk about debt. But now that the average credit card interest rate in America is a shocking, all-time record of 24.45%, we need to push past that money taboo.