Further compounding the issue is the skyrocketing cost of credit card debt. Average credit card interest rates are currently sitting at a record high of nearly 23%, so many cardho

We hear a lot about debt — specifically credit card debt. During the second quarter of 2024, credit card balances tipped over the trillion dollar mark for American households. In a tight economy, many people lean on credit cards to make ends meet.

The Federal Reserve has made its first rate cut in 14 months, with more expected in 2024. Here are the smart money moves to consider.

The Fed's rate cut won't necessarily slash credit card interest rates, but it could help you get rid of your card debt.

In a long-anticipated move, the Federal Reserve this week initiated a cut to the federal funds rate. While the magnitude of the cut came as a slight surprise -- analysts expected a smaller 25-basis-point cut compared to the 50-basis-point cut that was announced -- it is still believed to be the first of several additional cuts it will likely vote for over the next few years.