Credit Card Debt: The average credit card rate hit 16.7% according to BankRate. Credit card rates, tied closely to the Fed's moves, are expected to keep rising — squeezing consumers who carry a balance. The average credit card rate hit 16.7% according to BankRate. Credit card rates, tied closely to the Fed's moves, are expected to keep rising — squeezing consumers who carry a balance. Auto Loans: Rising interest rates and increasing prices had already pushed the average monthly car payment to an all-time high of $656 for new vehicles, and $546 for used rides, per Edmunds.

Source: Fox News July 28, 2022 04:07 UTC