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‘Get paid when it gets paid’: Fed rate hikes crunch balance-carrying cardholders

Por: WGN-TV Nation August 02, 2023

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) — Americans with credit card debt are caught in the crossfire of the Federal Reserve’s battle to bring down inflation. The average annual percentage rate (APR) for credit cards hit 22.39 percent during the second quarter of 2023, up 3.5 percentage points from the same period last year, according to a by WalletHub. “The current average credit card APR is the highest it’s ever been in the past two decades due to the recent Fed rate... + full article



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