Interest rates for bank-issued credit cards hit a record high.

Credit Card Interest Rates Reach Record High

Plus credit card interest rates at their highest level ever. I'm sure you witnessed this to some extent. The last time interest was even close to this level was back in 1985. Higher prices from inflation, leading americans to use credit cards more often for base BIs and therefore, of course paying higher. In the end, due to higher fees or interest. You can try to negotiate these rates with your bank. Abbott cheddar News will be tracking comments from banks this earnings season to see whether these high rates might change and how the consumer is faring these big bank earnings, kicking off on friday of this week.