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Struggling to tackle your credit card debt on your own? Here's how to know when it's time to try a different strategy.
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For consumers, high credit card interest rates are irrelevant if they don’t carry a balance or take cash advances. But if they revolve a monthly balance, make no mistake, that’s a loan.
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.
Interest rates are coming down, but credit card rates remain stubbornly high. The average credit card rate is 20.51%, Bankrate reports.That’s a hair below the all-time record, 20.79%, set in August.
Despite high rates, credit cards have become integral to the U.S. economy. Three-quarters of all American adults have at least one. There were 580 million credit-card accounts in the U.S. in 2023 ...
The typical credit card now charges a record-high 20.72% rate on introductory offers, reports Bankrate.com. Certain types of cards, such as those sponsored by specific stores or retailers, are ...
The average annual percentage rate (APR) on credit cards nearly doubled to 22.8 percent in 2023 from 12.9 percent in 2013, costing consumers around $25 billion in interest fees last year ...
3 reasons why your credit card interest rate is so high—that have nothing to do with you CNBC Select answers why issuers charge such high interest and how you can avoid it. Updated Tue, Apr 29 2025 ...