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Here are the highest retail credit card interest rates rates Bankrate has found: Academy Sports + Outdoors Credit Card: 35.99% ... Tire Rack Credit Card: 34.99%. TJX Rewards Credit Card: 34.99% ...
Key insights on retail credit card interest rates in 2024 The average interest rate for retail cards is at an all-time high. At 30.45%, that means carrying a balance is more expensive than ever.
In late 2021, the average interest rate for a credit card was about 14.51%. By 2024, it was over 21%—and many Americans find themselves with cards charging as high as 30%.
The Fed cut its benchmark short-term interest rate, the federal funds rate, by a full point in 2024 and the average credit card rate has only dropped from 20.74 percent at the start of 2024 to 20. ...
Nor, of course, do all credit card users face those 20%-plus interest rates, as about half of borrowers pay off their credit balances each month and long-standing accounts feature lower rates.
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