Credit cards as seen Thursday, July 1, 2021, in Orlando, Fla. When the Federal Reserve announces that it’s raising interest rates, it’s all over the news. And unlike other kinds of loans with fixed rates, credit card interest is variable, meaning rates will go up as a result of the Fed’s decision. If you have credit card debt, should you be worried? Not any more than usual. (AP Photo/John Raoux, File)