Jane Parker, WalletHub Credit Card Analyst
@parker16
The highest credit card interest rate in recent memory was 79.9% on a card offered by First Premier Bank in 2010 but that offer’s not available anymore. The current highest credit card interest rate is 36% on the First PREMIER® Bank Mastercard Credit Card.
The next highest credit card interest rate seems to be 35.99%, charged by the Total Visa® Card and the Milestone® Mastercard®. These rates are very high when you consider that the average interest rate is only around 22.76%.
Some of the Highest Credit Card Interest Rates on the Market
- Highest Interest Rate Overall: First PREMIER® Bank Mastercard Credit CardLearn MoreLearn More
- Highest Interest Rate Overall: First PREMIER® Bank Mastercard Credit CardLearn MoreLearn Moreon issuer's website
- Highest Interest Rate Overall: First PREMIER® Bank Mastercard Credit CardLearn MoreLearn More
- Highest Interest Rate Overall:
APR: 36%
One-time fee: $55 - $95
Monthly fee: $0 - $8 1st yr, $6.25 - $10.4 after
Annual fee: $0
Credit requirement: Designed for people with bad credit
- Fast Application Process: Total Visa® CardLearn MoreLearn More
- Fast Application Process: Total Visa® CardLearn MoreLearn Moreon issuer's website
- Fast Application Process: Total Visa® CardLearn MoreLearn More
- Fast Application Process:
APR: 35.99%
One-time fee: $95
Monthly fee: $0 intro 1st year, $6.25 - $10.25 after
Annual fee: $50 - $125 1st year, $48 after
Credit requirement: Designed for people with bad credit
- Emergency Loan: Milestone® Mastercard®Learn MoreLearn More
- Emergency Loan: Milestone® Mastercard®Learn MoreLearn Moreon issuer's website
- Emergency Loan: Milestone® Mastercard®Learn MoreLearn More
- Emergency Loan:
APR: 35.9%
One-time fee: $0
Monthly fee: $0 1st yr, $12.50 after
Annual fee: $175 1st yr; $49 after
Credit requirement: Designed for people with bad credit
- Rates & Fees Damaged Credit: Destiny Mastercard®Learn MoreLearn Moreon issuer's website
- Rates & Fees Damaged Credit: Destiny Mastercard®Learn MoreLearn Moreon issuer's website
- Damaged Credit: Destiny Mastercard®Learn MoreLearn More
- Damaged Credit:
APR: 35.9%
One-time fee: $0
Monthly fee: $0 1st yr, $12.50 after
Annual fee: $175 1st yr; $49 after
Credit requirement: Designed for people with bad credit
As you can see, the highest credit card interest rates are typically found on cards for people with bad credit. The better your credit is, the better your chance of getting a lower interest rate. Legally, there actually is no highest credit card interest rate that’s possible. Credit card companies are allowed to charge any interest rate. But they must clearly state what that rate is in the card’s terms and conditions.
Companies that would like to charge outrageous interest rates are limited by what people are actually willing to pay. You should always make sure you know a card’s interest rate before applying. Otherwise, it may come as a nasty surprise.
How to Avoid High Credit Card Interest Charges
It’s worth remembering that, no matter how high or low your interest rate is, it will never affect you unless you carry a balance between months. If you always pay off your bill in full, you’ll never pay any interest unless you take out a cash advance. So, if you don’t spend beyond your means, interest rates shouldn’t be a huge consideration when you’re picking a credit card.
But if you’re not confident about your ability to pay in full, you should prioritize low interest rates in your search. Many cards will even offer you 0% interest for a number of months to start. While there are a few interest-free credit cards for bad credit, you’ll usually need at least good credit to get one of the best 0% intro APR credit cards.
Popular Credit Cards from Our Partners
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Low Intro APR & Bonus Rewards:
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Everyday Cash Back:
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Good Credit:
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0% Intro APR:
Keira Johnson, Member
@keira_johnson
I remember seeing a 30% APR on a credit card somewhere.
Barbara Fleischer, Member
@barb_fleischer
You most likely will never have to face it, but I know First PREMIER® Bank Credit Card can have some nasty APR's, like 36%. But if you get approved with that interest rate, much better to just cancel, and find something less expensive.
People also ask
Does asking for a lower interest rate affect your credit score?
Yes, asking for a lower interest rate on a credit card could affect your credit score if the card’s issuer needs to do a hard inquiry into your credit history to determine whether or not you qualify for the lower rate.
A hard inquiry will typically drop your credit score by a few points, and it can only affect your score for up to 12 months. So, the potential negative impact is minimal. That said, receiving a lower interest rate may...
read full answer by Christie Matherne, Credit Card WriterDid we answer your question?
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@Bitholov: Now is 36.99%..........................................
As of 2022, the highest credit card interest rate is 39.99% on Curacao credit card (store card) issued by Curacao (retailer) for applicants in California, Nevada and Arizona.