Here's what interest-rate cut means for borrowers on everything from credit cards to mortgages

The Federal Reserve on Wednesday issued the third consecutive quarter-point interest rate cut this year — likely impacting everything from credit card rates and mortgages to online savings accounts.

Central bankers lowered rates to a new range of 3.5% to 3.75% , potentially bringing welcome relief to borrowers.

It’s possible consumers can expect to see a lower annual percentage rate, that is, the yearly cost of borrowing, for products like credit cards.

“If the APR is variable [on your credit product], you should see a drop in your rate. It won’t happen overnight, though, because there will be an adjustment period,” Erica Sandberg, consumer finance expert at CardRates.com, told The Post.

“Eventually fixed APRs may also decline, as well, so consumers may see the rates that are attache