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Many economists are forecasting the federal funds rate will drop to 3% to 3.5% by May 2025, or more than two percentage points lower than today. In the meantime, Schulz recommends that consumers ...
Credit card debt will cost you more than most other types of debt, regardless of where the Fed funds rate sits. While Fed rate cuts can lower your interest charges, you’re nearly always better ...
Consider this example: If you only make minimum payments toward $6,360 in credit card debt at an annual rate of 20.75%, you'd be in debt for 218 months — or a bit more than 18 years — and will ...
With average credit card interest rates at an all-time high, snagging a lower rate could help reduce the interest you pay and enable you to get out of debt more quickly.
A balance transfer is when you move your balance from one credit card to another offering a lower or 0% annual percentage rate (APR) for a set period of time, usually six months to up to two years ...
If you already have a credit card and want to lower your rate, consider reaching out to your issuer and asking. Sometimes a representative can lower your APR, even temporarily, to maintain a good ...
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