Prime Rate Reduced to 7.25%
The Federal Reserve cut interest rates by .25% yesterday, leading major banks to cut their prime lending rate by a quarter point as well. With many loans and credit cards tied to the prime rate, interest costs for consumers will come down.
With several rate cuts in recent months, variable rate credit cards are increasing in popularity. Visit our credit card comparison tool to find a low rate card that has the rewards program (free travel, cash back, gas rebates, etc.) that will benefit you most.