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3 ways to cut credit card costs as rates rise

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Tuesday 01:32 GMT

Most credit card contracts have variable interest rates, which means borrowers would feel an increase in rates by the Federal Reserve instantly.

On average, people carrying it are already paying a high 14.99 percent interest rate, and that bill will only get more expensive as rates rise further. Most credit card contracts have variable interest rates, which means borrowers would feel an increase in rates by the Federal Reserve instantly.


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