Average interest rates on retail credit cards hit a record high of 30.45%, according to new Bankrate study. Bankrate senior industry analyst Ted Rossman joins Wealth! to discuss why store credit cards have such high rates and how consumers can navigate paying these down.

The Fed’s interest-rate cuts will soften the prices consumers pay for debt — but people may not see an impact on their payments for a while.

The average retail credit card interest rate is now at a record high 30.45%, according to a new Bankrate study.

A new study from Bankrate, which surveyed the interest rates of 108 store cards from leading retailers in early September, found they have reached a record high since Bankrate started tracking them in 2008.

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 Federal Reserve cut interest rates Wednesday by the biggest amount since 2008. Stock markets initally soared on the news - which is seen as a boost for the economy. By slashing interest rates, the Fed has made borrowing money less expensive,