(WHTM) — Rising mortgage rates are getting plenty of attention these days. But, with the federal reserve raising rates to fend off inflation, it’s taking a toll even if you are not buying a home.

Have a revolving credit card balance? Thinking of buying a new or used car? Maybe you are hoping to take out a college loan soon? It’s not just home mortgage rates spiking this spring.

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Bankrate.com says the average credit card rates are at a two-year high or 16%. The average five-year car loan is now over 6%. A 20-year home equity loan? That is at 6%.

And, that all-important 30-year mortgage is now over 5%, as high as 5.5% in some areas, which can add $500 a month to a $350,000 home.

But, from the “doesn’t that stink” file: how a poor credit score can really hurt you these days.

Buying a car? Your rate can range from 4% with an excellent credit score (above 600), to 17% if you have poor credit.

Mortgages and other loans carry similar penalties for low credit scores. So, what can you do?

Ask for an adjustable rate, or ARM. If you are buying a home, usually a point or two lower than the fixed rate. Just know it typically readjusts higher in 3-5 years, so, may only be a smart idea if you think you will move in a few years.

Finally, credit counselors say now is a good time to try to boost your credit score by paying down credit cards so you get a better rate and so you don’t waste your money.