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Average Credit Card Interest Rate 2018

Average Credit Card Purchase Interest Rate (APR): By Card Type The average credit card interest rate varies significantly depending on the type of card you’re looking at. Rewards credit cards will generally have a higher average APR as a group to make up for the additional benefits that these cards provide.

It's okay. You can admit that you were sucked in by that 0% introductory interest rate. It happens to the best of us. But what happens when the.

In early 2018, the Average Percentage Rate (APR) for credit cards was 16.35%, an all-time high. If the Fed has three rate hikes of 0.25% this year, that likely would push the average credit-card APR to 17.10%. Here’s how that interest-rate increase would affect monthly interest for consumers with $10,000 or $15,000 in credit-card debt.

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This rate (often 0%) is consistently lower than the typical APR for each card. On average, credit cards with a 0% introductory APR on purchases offer around 10 months without interest, while.

NerdWallet recently found that over the last five years, average credit card interest rates have increased by 35%. But not all credit cards are created equal – and some will be more expensive to.

HOW TO LOWER YOUR CREDIT CARD INTEREST RATE Credit card interest rates are tied to the prime rate, which is tied to – you. Average credit card debt per borrower is about $5,700 and growing at a rate of 4.7. A version of this article appears in print on July 1, 2018 , Section A, Page 22 of the.

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For credit card accounts, the rate for all accounts is the stated APR averaged across all credit card accounts at all reporting banks. The rate for accounts assessed interest is the annualized ratio of total finance charges at all reporting banks to the total average daily balances against which the finance charges were assessed (excludes.

According to U.S. News research, the average APR for all credit cards is between about 17% to 24%. credit cards with a low ongoing APR have an interest rate that’s below average. These low-interest.

Study: Average Credit Card Interest Rate The current average interest rate on credit cards is 12.77%. See current trends and rates. Interest rates on credit cards are on the rise again.