The new year may bring higher interest rates that could increase credit card debt for many Americans.
“If the Fed is going to raise rates another 100 basis points, one full percentage point, your credit card rate is going to go up one full percentage point,” Bankrate.com Chief Financial Analyst Greg McBride told Yahoo Finance Live (video above). “So this is really important. If you’re carrying a balance, now’s the time to take some action.”
He advises credit card holders to increase their…
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