What is the average credit card interest rate in the united states?

Submitted by Law Office Blogger on Fri, 04/12/2024 - 1:05pm

The average credit card interest rate in the United States is currently quite high. Here's a breakdown of why it's complex and where to find the most reliable numbers:

Factors Affecting Average Interest Rates:

Federal Reserve Rates: The Federal Reserve's interest rate hikes directly impact credit card interest rates.
Creditworthiness: Your credit score plays a major role in the interest rate you'll be offered. Excellent credit usually gets you the best rates.
Card Type: Rewards cards, balance transfer cards, and cards for those with less-than-perfect credit tend to have higher interest rates.

Where to Find the Latest Information:

LendingTree: https://www.lendingtree.com/credit-cards/average-credit-card-interest-ra...
WalletHub: https://wallethub.com/edu/cc/average-credit-card-interest-rate/50841
Forbes Advisor: https://www.forbes.com/advisor/credit-cards/average-credit-card-interest...
Consumer Financial Protection Bureau: https://www.consumerfinance.gov/about-us/blog/credit-card-interest-rate-...

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