Credit card interest rates remain high right now, driven up, in part, by the Federal Reserve's rate hikes that occurred in 2022 and 2023. ... How seniors can reduce their credit card debt.

With average credit card interest hovering around 21.37%, carrying a balance is costly as minimum payments mostly cover interest. Aim to pay in full each month, or at least more than the minimum ...

Americans are carrying more debt than ever before. According to the Federal Reserve Bank of New York, household debt hit ...

And the Federal Reserve Bank of New York reports that national credit card debt is at a whopping $1.18 trillion. That credit card debt is expensive to carry, with current credit card interest ...

There’s been a big uptick in consumer debt this spring. The Federal Reserve reports that consumer credit in April rose by nearly $18 billion, or 4.3% on an annualized basis.

Total household debt rose by $167 billion to $18.2 trillion in the first quarter — a jump driven by mortgage debt, according to the latest quarterly report from the Federal Reserve Bank of New York.

Banks are pitching home-equity lines of credit as a cheaper form of borrowing as Federal Reserve rate cuts could lower HELOC rates to the mid-6% range, according to one estimate.

Chart Rating Changes Sections. ... And if the Federal Reserve cuts interest rates ... Using a HELOC to pay off credit-card debt ranging from $20,000 to $30,000 might be a good idea ...

The average interest rate on credit card balances is 21.37%, according to the latest figures from the Federal Reserve. So obviously, it’s something we all want to steer clear of.

Many Americans say President Donald Trump’s tariffs will make it harder for to manage or repay debt, a survey found. Experts ...

The Federal Reserve aims to hold inflation at around 2% annually, but it hit 4.7% in 2021, soared to 8% in 2022; then dipped down to 4.1% in 2023, still double the target. Last year, it settled at ...