The Federal Reserve on Wednesday raised its key interest rate for the 10th time since mid-March of last year. Each time the Fed raises the rate, the lending rates that banks charge their customers tend to follow. That means consumer debt — especially variable-rate credit card debt — will get more expensive. “The average credit card rate is now at a record high above 20%,” said Greg McBride, chief financial analyst for Bankrate.com. More specifically, it was at 20.23% as of April 26.
“Turbocharge your debt repayment efforts with a 0% balance transfer offer, some lasting as long as 21 months,” said McBride. “This insulates you from further rate hikes and gives you a runway to get the debt paid off once and for all.” But first find out what, if any, fees you will have to pay , and what the penalties will be for late or missed payments during the zero-rate period.
Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
Why the Fed will likely raise rates two days after First Republic failed | CNN BusinessFor the second time this year, the Federal Reserve is gearing up to raise interest rates right after a bank failure.
Bron: CNN - 🏆 4. / 95 Lees verder »
The Fed lifts rates by a quarter point | CNN BusinessThe Federal Reserve voted unanimously to raise interest rates by a quarter point Wednesday, the tenth rate hike since the central bank started its battle against inflation last March.
Bron: CNN - 🏆 4. / 95 Lees verder »
What to expect from the Fed meeting | CNN BusinessFederal Reserve officials are expected to raise interest rates by a quarter point at the conclusion of their two-day policy meeting Wednesday, despite calls from some lawmakers and economists to tap the brakes to allow the ailing banking sector to rebalance.
Bron: cnni - 🏆 326. / 59 Lees verder »
Read this to understand what Fed Chair Powell said today | CNN BusinessNumerous waves of showers and thunderstorms will move across the United Kingdom over the next several days, leaving those celebrating King Charles III’s coronation to dodge the rain over the weekend of festivities
Bron: cnni - 🏆 326. / 59 Lees verder »
Tuesday Morning is going out of business and closing all of its stores | CNN BusinessTuesday Morning is going out of business and closing all of its stores. It is the second major US home goods retailer to go bust in recent days.
Bron: CNN - 🏆 4. / 95 Lees verder »
Fed playbook: Which stocks to buy or sell depending on what the Fed doesCNBC Pro screened for names screened that are the most sensitive to interest rates by looking at the 100-day correlation between each S&P 500 stock and SHY ETF.
Bron: CNBC - 🏆 12. / 72 Lees verder »