Will credit card rates go down again?

When the Fed meets next week, a 3/4% drop in rates is expected.  The question is, will credit card companies share this with consumers?  A number of credit card companies, including Capital One, have recently changed the way interest rates are calculated so that the rates they offer are not based on the Prime Rate.  In essence, this move will keep certain interest rates at current levels, even though money will be cheaper for banks.  Other banks, such as Chase and Citi, reduce the rates they charge consumers when the Federal Reserve drops its key rate, which translates into lower interest rates for consumers.

Smart Credit Choices will keep you posted on any updates.