It looks like the impact of the Federal Reserve interest rate hike this week will be felt more by consumers this time around. Hall Financial CEO and founder David Hall says that’s especially true for those who have lingering credit card debt.

“I think it’s significant right now for folks that have lingering credit card debt that those rates continue to go up,” says Hall. “Your cost of buying a car is going to go up in terms of the interest rate you pay, home equity line rates are going up, credit card debt interest rates are going up, so you really want to make sure you get that checked out and you’re in a good position.”

Hall and other financial experts advise consumers to find interest-friendly credit cards and consider transferring existing balances to those cards from higher interest credit cards.