A survey by Bankrate.com found that 49% of Americans are concerned about rising interest rates this year. But that number probably should be higher.
Today, the average household with credit card debt has balances totaling $16,061. Of that, $6,885 is revolving debt. Revolving debt traditionally cost U.S. households $1,292 in interest, but that cost increases to $1,309 thanks to the Fed's 0.25% rate hike.
This article was written by a staff member of TheStreet.