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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 Consumer Financial Protection Bureau (CFPB) released its new Explore Credit Cards tool this week, intended to allow consumers to compare more than 500 credit cards based on “unbiased ...
Here are the highest retail credit card interest rates rates Bankrate has found: Academy Sports + Outdoors Credit Card: 35.99%. Big Lots Credit Card: 35.99%. Burlington Credit Card: 35.99%.
In fact, the average retail credit card interest rate hit an all-time high in 2024 at 30.45 percent, according to Bankrate’s 2024 Retail Credit Card Survey.
Interest rates are falling for borrowers. Read on to find out where credit card rates could be by the time 2025 rolls around. Prediction: Here's Where Credit Card Interest Rates Will Be in 2025
Based on the latest expectations for Fed rate cuts, I'd predict that the average credit card interest rate of 22.76% will fall to 21.76% by the end of 2024 and to 20.26% by the end of 2025.
In fact, a recent Bankrate survey on retail cards found that the average retail credit card interest rate hit a high of 28.93 percent last year.
The average credit card balance is $8,483 and the average interest rate is 21.59%. ... the typical American with the average credit card balance and average interest rate would have paid a grand ...
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related to: lowe's credit card interest rate