Another interest-rate hike by the Federal Reserve could cost credit card users at least $1.7 billion in added interest charges over the next 12 months, according to a new report from WalletHub.
The report, published on May 1, found that consumers will pay around $31.7 billion in extra interest charges over the next year due to the central bank’s 475 basis points in rate hikes between March 2022 and March 2023.
