NEW YORK—Although credit card interest rates are rising, not all the news about plastic is bad. That's because some credit card fees are disappearing, particularly foreign transaction fees.
In 2015, 77 out of 100 cards charged these fees, 3% to 5% charges each time consumers use their card to buy something outside the U.S. But just 52 cards still charge these fees today, reported CBS News.
“However, credit card interest rates have risen sharply over the past year, jumping to 17.01% percent on average from 16.15% a year ago and from 15.2% in 2016,” noted CBS News.