Walmart wrote:The FOMC is meeting in two weeks and it's likely it will begin a program of increases in the Fed Funds rate.
How will a program of increases affect CC interest rates, promotional BT rates and BT charges? Has anyone given that much thought?
It was bound to happen. The Funds rate wasn't going to stay basically at zero forever.
CC interest rate: not interested (pun intended). If I'm paying interest on a credit card, I'm doing it wrong.
BT rates/charges: 0% offers will still be around. These are not so much a reflection of the price of money but a vehicle for a bank to get people to use their card and earn swipe fees and (eventually) interest.