If it feels like your savings account is only earning you pennies, you’re probably right. There are better places you could be parking your cash.
The Federal Reserve announced in June it was raising its benchmark federal-funds rate by a quarter percentage point, to a range between 1% and 1.25%. At that time, personal-finance experts warned consumers their credit-card interest rates would rise right away, since banks would have to pay more to borrow from the Federal Reserve and pass that cost on to consumers.
Since the fourt…
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