Interest rate cuts? Not on credit cards

Despite falling interest rates, a growing number of consumers are paying the same — or even more — to borrow on their credit cards.The majority of credit cards on the market have variable, or floating, rates. Theoretically, that means that as the Federal Reserve lowers its federal funds rate — the latest cut took place this month — card holders should also see their borrowing costs fall.In reality, though, banks often set a "floor" that credit card rates can't fall below, and in many cases, that... Full Story