The Federal Reserve Bank giveth and it taketh away. Thanks to the Fed’s interest-rate increases, it’s possible to earn a safe 5%-plus on your cash these days, but at the same time credit cards have gotten much more expensive. As of May, the most recent date for which data are available, the average card charged an annual percentage yield of 20.7%. That’s the highest level since the St. Louis Fed started tracking APYs in 1994. And the number is probably higher now because of the Fed’s quarter-point increase in July.
The high…
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