Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (2024)

Table of Contents

  • If you’re struggling with credit card debt, there are steps you can take
  • How the Fed’s decision affects your credit cards
  • The impact of the Federal Reserve on credit cards

Money Credit Cards

Article updated on Jul 31, 2024

We aren't likely to see a rate cut before the leaves change. Don't wait to work on reducing your credit card balance.

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Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (1)Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (2)Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (3)

Written by

Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (4)

Evan Zimmer

Staff Writer

Evan Zimmer has been writing about finance for years. After graduating with a journalism degree from SUNY Oswego, he wrote credit card content for Credit Card Insider (now Money Tips) before moving to ZDNET Finance to cover credit card, banking and blockchain news. He currently works with CNET Money to bring readers the most accurate and up-to-date financial information. Otherwise, you can find him reading, rock climbing, snowboarding and enjoying the outdoors.

See full bio

Edited by

Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (5)

Liliana Hall

Associate Writer

Liliana Hall is a writer for CNET Money covering banking, credit cards and mortgages. Previously, she wrote about personal credit for Bankrate and CreditCards.com. She is passionate about providing accessible content to enhance financial literacy. She graduated from the University of Texas at Austin with a bachelor's degree in journalism, and has worked in the newsrooms of KUT and the Austin Chronicle. When not working, she is probably paddle boarding, hopping on a flight or reading for her book club.

See full bio ,

Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (6)

Tiffany Connors

Editor

Tiffany Wendeln Connors is a senior editor for CNET Money with a focus on credit cards. Previously, she covered personal finance topics as a writer and editor at The Penny Hoarder. She is passionate about helping people make the best money decisions for themselves and their families. She graduated from Bowling Green State University with a bachelor's degree in journalism and has been a writer and editor for publications including the New York Post, Women's Running magazine and Soap Opera Digest. When she isn't working, you can find her enjoying life in St. Petersburg, Florida, with her husband, daughter and a very needy dog.

See full bio

CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.

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Our Experts

Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (7)Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (8)Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (9)

Written by

Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (10)

Evan Zimmer

Staff Writer

Evan Zimmer has been writing about finance for years. After graduating with a journalism degree from SUNY Oswego, he wrote credit card content for Credit Card Insider (now Money Tips) before moving to ZDNET Finance to cover credit card, banking and blockchain news. He currently works with CNET Money to bring readers the most accurate and up-to-date financial information. Otherwise, you can find him reading, rock climbing, snowboarding and enjoying the outdoors.

See full bio

Edited by

Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (11)

Liliana Hall

Associate Writer

Liliana Hall is a writer for CNET Money covering banking, credit cards and mortgages. Previously, she wrote about personal credit for Bankrate and CreditCards.com. She is passionate about providing accessible content to enhance financial literacy. She graduated from the University of Texas at Austin with a bachelor's degree in journalism, and has worked in the newsrooms of KUT and the Austin Chronicle. When not working, she is probably paddle boarding, hopping on a flight or reading for her book club.

See full bio ,

Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (12)

Tiffany Connors

Editor

Tiffany Wendeln Connors is a senior editor for CNET Money with a focus on credit cards. Previously, she covered personal finance topics as a writer and editor at The Penny Hoarder. She is passionate about helping people make the best money decisions for themselves and their families. She graduated from Bowling Green State University with a bachelor's degree in journalism and has been a writer and editor for publications including the New York Post, Women's Running magazine and Soap Opera Digest. When she isn't working, you can find her enjoying life in St. Petersburg, Florida, with her husband, daughter and a very needy dog.

See full bio

CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.

Reviews ethics statement

Why You Can Trust CNET Money

Table of Contents

  • If you’re struggling with credit card debt, there are steps you can take
  • How the Fed’s decision affects your credit cards
  • The impact of the Federal Reserve on credit cards
Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (13)

Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (14)

Written by

Evan Zimmer

Staff Writer

Read more from Evan

Evan Zimmer has been writing about finance for years. After graduating with a journalism degree from SUNY Oswego, he wrote credit card content for Credit Card Insider (now Money Tips) before moving to ZDNET Finance to cover credit card, banking and blockchain news. He currently works with CNET Money to bring readers the most accurate and up-to-date financial information. Otherwise, you can find him reading, rock climbing, snowboarding and enjoying the outdoors.

Advertiser Disclosure

CNET editors independently choose every product and service we cover. Though we can’t review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site.

Continued Interest Rate Pause Makes It Hard to Pay Down Credit Card Debt (2024)
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