"Policymakers at the Federal Reserve will announce their latest decision on interest rates on Wednesday, and although they are expected to keep rates steady, their assessment of the economy often moves markets, with implications for borrowers and savers."
"Credit card rates are closely linked to the Fed's actions, which means consumers with revolving debt have seen those rates rise over the past year and quickly (increases usually occur within one or two billing cycles). The average credit card rate was 20.72 percent as of Dec. 6, according to Bankrate.com, up from around 16 percent in March last year, when the Fed began its series of rate increases."
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