Will credit card interest rates fall this October? Here's what experts say.

Credit card interest rates are currently hovering near record highs. Pla2na/Getty Images

The Federal Reserve issued its first rate cut of the year in September — a 25-basis-point reduction that marked a notable shift in monetary policy. But credit card rates have remained largely unchanged, continuing a pattern where they prove resistant to broader market movements.

Credit card users are still facing near-record-high average rates above 20%, creating serious challenges for those carrying balances . With the Fed signaling more potential policy changes ahead, however, many cardholders are wondering if October might finally bring some relief.

We asked some financial experts to explain what's shaping credit card interest rates and what changes (if any) we might see this month. Bel