With inflation, interest rates and stock market uncertainty high now, is credit card debt forgiveness still worth it?

You aren't necessarily stuck with your current credit card rates. These simple strategies could help lower them.

See how we rate credit cards to write unbiased product reviews ... However, be prepared to explain why you're requesting the interest rate reduction — highlighting your solid payment history ...

Evan Coleman is an Updates Editor on the Credit Cards and ... You can request a rate reduction from your card issuer, referencing offers with lower interest rates from other providers to ...

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Robin has worked as a credit cards, editor and spokesperson for over a decade. Prior to Forbes Advisor, she also covered credit cards and related content for other national web publications ...

According to Forbes Advisor, the current average credit card interest rate is 28.72 percent. Stock image/file photo: Credit cards laid out on a surface. Stock image/file photo: Credit cards laid ...

This allows you to avoid paying sky-high interest rates on your balances, without giving up the spending flexibility and benefits of a credit card. And during times of heavy spending (like the ...

Your credit card interest rate might go down. Credit cards also fall under the category of variable-rate debt, which means that you could see a reduction in your credit card rate as well.

At the same time, credit card interest rates are "very high," averaging 23% annually in 2023, the New York Fed found, also making credit cards one of the most expensive ways to borrow money.

A low-interest credit card can be a valuable tool to help you save money if you sometimes carry a balance. Many cards come with introductory interest-free periods of at least a year, which could ...