The Fed slashed interest rates, but some credit card APRs aren't going down. Here's why [CNBC]
Bread Financial Holdings, Inc. (BFH)
Company Research
Source: CNBC
For some retail credit cards, interest rates have only gone up. In part, card issuers are trying to get ahead of a new federal rule, which caps credit card late fees. Most credit cards have a variable rate with a direct connection to the Federal Reserve 's benchmark. It follows that credit card rates spiked along with the Fed's string of 11 rate hikes starting in March 2022. The average annual percentage rate rose from 16.34% at that time to more than 20% today — near an all-time high But when the Fed started slashing interest rates in September, with an initial cut of half a percentage point, the average credit card interest rate fell by just 0.13% . The Fed has since cut rates by another quarter point. More from Personal Finance: Here are the best ways to save money this holiday season Nearly 2 in 5 cardholders have maxed out a credit card Holiday shoppers plan to spend more For some retail credit cards, interest rates are still rising. The average retail card rat
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BFH
News
- Bread Financial Holdings, Inc. (NYSE: BFH) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "overweight" rating. They now have a $76.00 price target on the stock, up previously from $35.00.MarketBeat
- Here's how UFC legend Georges St-Pierre spent (and saved) his first $1 million — including $20,000 in dino fossils [Yahoo! Finance]Yahoo! Finance
- BFH Stock Soars 95.3% YTD: A Signal for Investors to Hold Tight? [Yahoo! Finance]Yahoo! Finance
- Bread Financial Provides Performance Update for November 2024GlobeNewswire
- Bread Financial Holdings, Inc. (NYSE: BFH) had its price target raised by analysts at Keefe, Bruyette & Woods from $67.00 to $88.00. They now have an "outperform" rating on the stock.MarketBeat
BFH
Earnings
- 10/24/24 - Miss
BFH
Sec Filings
- 12/11/24 - Form 8-K
- 12/2/24 - Form 8-K
- 11/14/24 - Form SC
- BFH's page on the SEC website