Navegó a una página que no está disponible en español en este momento. Seleccione el enlace si desea ver otro contenido en español.

Página principal

How to Prepare for an Interest Rate Hike

Higher interest rates can have an impact on your finances — increasing the cost of borrowing and raising monthly payments.

Here’s what you can do to minimize the impact:

Adjust your timing

Consider moving up the purchase of a house, car, large appliance, or another big purchase — and lock in a fixed rate before interest rates increase.

Stay on top of the situation

Watch the news and pay attention to future rate hikes, so you can monitor how higher rates are impacting your finances.

Work on increasing your credit score

Improving your credit score can actually help combat rising interest rates.  If you are looking for a new credit account, or refinancing a current loan, you may qualify for lower rates with a better credit score, helping to counteract the interest increase.

Get a credit check-up

Will you still be able to make on-time monthly payments as interest rates rise? Give yourself a credit check-up and see how much more you may be paying each month as rates rise. If it looks like more than you’ll be able to handle, explore your options now — before you start missing payments and damage your credit.

Do what you can now to prevent future problems

If you’re carrying a balance on your credit card or line of credit, pay it down as quickly as you can — so your payments stay manageable. Or consider refinancing the balances with a fixed-rate, fixed-term loan before rates rise any higher.


Your Wells Fargo banker can help you do a financial review to gauge the impact of rising rates on your situation.

If you’re considering new credit

When interest rates are rising, fixed-rate, fixed-term personal loans offer the security of an annual percentage rate (APR) and monthly payment that are fixed for the life of the loan. Shop around for the best rates and compare different types of personal loans to see what’s best for you. Fixed-rate, fixed-term credit options to consider include:

Personal loans

Consider opening a fixed-rate personal loan — either secured or unsecured. A personal loan is ideal for consolidating high-interest rate debt or for making large purchases.

Wells Fargo Personal Loans

Car loans

See what financing promotions may be available from your car dealer, and check out the vehicle loans your bank offers.

Wells Fargo Auto Loans

Fixed-rate mortgages

If you’re buying or refinancing a home, you can protect yourself from rising rates with a fixed-rate mortgage instead of an adjustable rate mortgage (ARM).

Wells Fargo Fixed-Rate Mortgages