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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.
An aggressively hawkish Fed has made the consequences of credit card debt even worse. Credit card rates first eclipsed 19 percent — a record high — in November 2022. Throughout 2023, they ...
The average credit card interest rate rose from 14.6% in February 2022 to 21.8% in August 2024, according to federal data. The average rate on a 60-month loan for a new car is 8.4%, as of August ...
Bankrate’s 2024 Credit Card Rewards survey found that 80 percent of respondents earning $80,000 annually or more have at least one reward card (as do 44 percent of those who earn less than ...
The average credit card rate was 16.34% in March 2022. "So, if the Fed cuts the federal funds rate by a quarter-point," Rossman said, "your credit card rate should fall by a quarter-point within a ...
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.
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