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Credit Card Interest Rates Drop Sharply
Submitted by
Logan Abbott
on Thu, 2008-01-24 10:20
The Federal Reserve unexpectedly cut the Fed Funds Rate by 0.75% earlier this week, leading to a corresponding decrease in the prime rate. Most credit card interest rates are tied to the prime rate, so carrying a balance on these cards just got a lot cheaper.
If you don’t have a variable rate credit card, now might be a good time to check one out.
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