Fed Cuts Key Rate By Three-Quarters of a Point: Credit Card Users Will Likely Benefit

Posted On: March 25, 2008

By Jessica Austin, CardRatings.com Public Relations Associate

The Fed announced a 75 basis point rate cut, bringing a key rate to 2.25 percent. The prime rate will fall three-quarters of a percentage point, also, to 5.25 percent. The move by the Federal Open Market Committee followed a half-percent rate cut Jan. 30 and brought the [...]