{"id":1733747,"date":"2022-11-10T13:18:24","date_gmt":"2022-11-10T18:18:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1733747"},"modified":"2022-11-10T13:18:28","modified_gmt":"2022-11-10T18:18:28","slug":"credit-card-interest-rates-reach-all-time-high","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/credit-card-interest-rates-reach-all-time-high\/","title":{"rendered":"Credit Card Interest Rates Reach All-Time High"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcredit-card-interest-rates-reach-all-time-high%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1733747&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <a class=\"\" href=\"https:\/\/freebeacon.com\/latest-news\/\">Latest News<\/a> <\/p>\n<p class=\"article-excerpt\">Comes as Fed hikes rates to tamp down record-high inflation<\/p>\n<p>    Getty Images   <a href=\"https:\/\/freebeacon.com\/author\/benjamin-wilson\/\" title=\"Posts by Benjamin Wilson\" class=\"author url fn text-red-700\" rel=\"author\">Benjamin Wilson<\/a> \u2022 November 10, 2022 1:05 pm  <\/p>\n<p dir=\"ltr\">The price of carrying a credit card balance has never been higher.<\/p>\n<p dir=\"ltr\">The current rate of 19.04 percent is the highest on record, according to financial services company Bankrate, which has tracked rates since 1985.<\/p>\n<p dir=\"ltr\">&#8220;This eclipses the previous all-time high of 19.00% from July 1991,&#8221; Senior Vice President Greg McBride said.<\/p>\n<p dir=\"ltr\">The increase comes as the Federal Reserve <a href=\"https:\/\/freebeacon.com\/latest-news\/facing-record-high-inflation-fed-announces-steep-interest-rate-hike\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/freebeacon.com\/latest-news\/facing-record-high-inflation-fed-announces-steep-interest-rate-hike\/&#038;source=gmail&#038;ust=1668184386994000&#038;usg=AOvVaw2QAfT09G4lYPAEY5zUe0lq\">raises interest rates<\/a> to fight record-high inflation.<\/p>\n<p dir=\"ltr\">The new credit rate average is a sharp increase from just earlier this year, NBC <a href=\"https:\/\/www.nbcnews.com\/business\/consumer\/credit-card-interest-rates-hit-record-high-rcna56373\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.nbcnews.com\/business\/consumer\/credit-card-interest-rates-hit-record-high-rcna56373&#038;source=gmail&#038;ust=1668184386994000&#038;usg=AOvVaw1X1vYY7OUuDyQrdpxrdOSQ\">reported<\/a>:<\/p>\n<p dir=\"ltr\"><em>The new average is a substantial increase from the 16.3% average rate for credit cards at the beginning of the year. According to Bankrate, if you carry a $5,000 balance on a credit card \u2014 which is the current national average \u2014 making just the minimum payment each month at that rate would cost $5,517 in interest over 185 months, or about 15 years. At today&#8217;s 19.04% rate, you would pay $6,546.<\/em><\/p>\n<p dir=\"ltr\">While rates are high, prices for consumers <a href=\"https:\/\/freebeacon.com\/latest-news\/consumer-prices-tick-up-in-october-as-inflation-persists\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/freebeacon.com\/latest-news\/consumer-prices-tick-up-in-october-as-inflation-persists\/&#038;source=gmail&#038;ust=1668184386994000&#038;usg=AOvVaw0YoAGFJFEM9NO8igEdZJZq\">rose less than expected<\/a> last month, suggesting inflation may be starting to ease.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of carrying a credit card balance has never been higher.<br \/>\nThe post Credit Card Interest Rates Reach All-Time High appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":1467,"featured_media":1733750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1733747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1733747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1467"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1733747"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1733747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1733750"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1733747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1733747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1733747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}