What will an interest rate hike cost?


Now that the Federal Reserve has pushed up interest rates, banks will almost certainly follow suit by raising the prime rate.

If you carry a balance on a variable rate credit card, your interest cost will go up as a result.

To see how much a quarter-point increase in rates will cost, find your card balance, to within $100, using the chart below (up to $100,000.) You can scroll down the list to find your card balance, or use the browser's search function.

See related: Fed raises interest rates for first time since 2006 

Published: December 16, 2015


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Updated: 03-25-2017


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