The Fed held interest rates steady, but some credit card APRs keep going up. Here's why

Even with the Federal Reserve on the sidelines, credit card rates are edging higher.

In June, credit card interest rates rose for the third straight month, hitting the highest level since December, according to a recent report by LendingTree.

Now, the average annual percentage rate is just over 20%, according to Bankrate. For new cards, the average APR is up to 24.3%, according to LendingTree.

“These are crippling rates that are compounding your debt at such a fast clip,” said certified financial planner Clifford Cornell, an associate financial advisor at Bone Fide Wealth in New York City.

Here’s a look at other stories affecting the financial advisor business.