In Your Debt: Forget the Fed, pay off your credit card debt

By SARA RATHNER of NerdWallet

When the Federal Reserve announces that it’s raising interest rates, it’s all over the news. And unlike other kinds of loans with fixed rates, credit card interest is variable, meaning rates will go up as a result of the Fed’s decision. If you have credit card debt, should you be worried? Not any more than usual. Credit card interest rates are always high, so your debt might have been keeping you up at night already. Whatever the Fed is up to, it’s always a great time to make a plan to pay down your high-interest credit card debt.