Credit card interest rates hold steady heading into the holiday season

Credit card interest rates hold steady

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(ABC 6 News) — Despite the Federal Reserve’s interest rate cuts, rates on retailer-issued credit cards have not budged.

Related: Federal Reserve set to cut rates again

According to the finance site Bankrate, store average interest rates are more than 30%. It is even higher per credit site WalletHub at more than 33%.

Experts speculate that issuers may be padding their profit margins. The average overall credit rate hovers around 21%.