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Average Rate – New Offers: 23.15%. Average Rate – Existing Balances: 22.76%. Currently, credit card interest rates range from 5.75% to 36% for new applicants. The average interest rate among credit card offers is 23.15%, as of September 2024, 0.04% higher than the prior month. The interest rates on existing credit card accounts are a bit lower.
The best credit card rates are 0% APRs that last for 15 months or longer. Credit cards offering 0% rates on new purchases can be interest-free for about 11 months on average, and balance transfer cards average around 13 months with 0% rates. The best regular interest rates on credit cards are below 14%.
21.51%. 21.59%. Note: The current averages shown reflect regular APRs for new credit card offers in September 2024, except for the average for all existing accounts, which is from May 2024 due to data limitations. Learn more about the current credit card landscape, including average credit card interest rates.
21.51% for existing accounts. The average credit card interest rate is 23.04% for new offers and 21.51% for existing accounts, according to WalletHub’s Credit Card Landscape Report. The average interest rate among new credit card offers has increased by nearly two percentage points since 2010. 2024's Best Credit Card Rates.
All Credit Card Accounts: 21.51%. All Credit Card Accounts with Finance Charges: 22.76%. Prime Rate: 8.50%. Delinquency Rate: 3.04%. Charge-Off Rate: 4.73%. Unemployment Rate: 4.00%. The following represents historical data on credit card interest rates in the United States. These rates are presented as functions of credit card delinquency ...
Credit card issuers and their investors profit from interest on credit card debt, since interest is essentially the cost of borrowing their money from month to month. Interest charges are one of the main ways that credit card companies earn money, especially since most credit cards don't charge annual fees.
Compare more than 1,000 credit card offers from all major issuers. WalletHub's Credit Card Comparison Tool makes it easy to apply for the best credit card.
Average Credit Card Interest Rates for 620 – 719 Credit Score. American Express and Capital One charge people with credit scores of 620 - 719 as much as 28.65%, which is 8.66% higher than Discover's lowest rate of 26.37%. (Source: WalletHub analysis of Terms of Credit Card Plans Survey, CFPB as of July 2023)
Citibank. The best low interest credit card from Citibank is the Citi Custom Cash® Card because it offers an introductory APR of 0% for 15 months for purchases and balance transfers. Citi Custom Cash also has a $0 annual fee and rewards cardholders with 1 - 5% cash back on purchases.
Intro Balance Transfer APR. Regular APR. Chase Freedom Flex® Credit Card. 0% for 15 months. 0% for 15 months. Balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after) 20.49% - 29.24% (V) (depending on creditworthiness) Chase Freedom Unlimited®. 0% for 15 months.