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largest retailersCNBC
•
83% Informative
At least 50 of the largest U.S. retailers boosted interest rates on their store credit cards in the months before the Federal Reserve began cutting rates.
Big Lots, Gap, Petco , Burlington , Macy 's and TJX Companies increased the APRs on their credit cards between September 2023 and September 2024 .
The average interest rate on a store card is at an all-time high just ahead of the holiday shopping season .
Macy 's, Nordstrom and TJX have passed on the 0.5 percentage point cut that the Federal Reserve implemented in September .
Some retailers, such as Macy 's and Nordstrom , increased the APR on their store cards.
The timing and scope of the interest rate increases on store cards indicates a clearer reason for the changes.
VR Score
88
Informative language
89
Neutral language
52
Article tone
informal
Language
English
Language complexity
44
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
2
Source diversity
2
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