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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.
Collectively, New York holds the most credit card debt at just under $50 billion total. West Virginia, Arkansas, and Mississippi sit at the bottom, with Mississippi having the lowest average ...
While the median amount of credit card debt Gen Zers have in the 100 largest metro areas is $2,076, Oxnard’s Gen Zers have about 80% more credit card debt, with 9 out of 10 carrying revolving debt.
Interest rates are falling for borrowers. Read on to find out where credit card rates could be by the time 2025 rolls around. Interest rates are falling for borrowers. Read on to find out where ...
Key credit card interest rate insights. Highest average credit card interest rate in 2024: 20.79 percent (Aug. 24, 2024) Lowest average credit card interest rate in 2024: 20.27 percent (Dec. 31, 2024)
“The average credit card rate is over 20% and with the Fed hitting the pause button on rate cuts, that rate isn’t going to come down much in the months ahead,” McBride told Fortune.
Baby boomers currently carry the most credit card debt of any generation, with an average balance of $7,808.93. To be fair, Gen Xers aren't too far behind. They owe an average of $7,530.31.
With the exception of investment debt, most forms of debt act as a drag on household finances. This is particularly true in the case of credit card debt. With a current average interest rate of...
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