Current Credit Card Interest Rates

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

APR: 36%

One-time fee: $55 - $95

Monthly fee: $0 - $8 1st yr, $6.25 - $10.4 after

Annual fee: $0

Credit requirement: None

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: None

APR: 35.9%

One-time fee: $0

Monthly fee: $0 1st yr, $12.50 after

Annual fee: $175 1st yr; $49 after

Credit requirement: None

APR: 35.9%

One-time fee: $0

Monthly fee: $0 1st yr, $12.50 after

Annual fee: $175 1st yr; $49 after

Credit requirement: None

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.

Yes, credit card rates are going up in 2023, mostly due to the Federal Reserve increasing its federal funds rate in response to inflation. The average credit card interest rate for new offers has risen from 21.43% in the fourth quarter of 2022 to 22.76% as of the end of Q1 2023, the latest data available.

Since inflation has remained very high into 2023, the Federal Reserve has continued to raise its federal funds...

The Mastercard interest rate could be anywhere between 13% to 36% in most cases, depending on the card and each applicant's creditworthiness. Just keep in mind that the interest rate isn't actually set by Mastercard. The issuers are in control of setting the rates. As a card network, Mastercard is more about where the card is accepted than anything else.

Things to Know About Mastercard's Interest Rates

• Your credit score plays an...

Visa credit card interest rates range from 9.99% to 35.99% (V), depending on the card and your overall creditworthiness. One of the best Visa credit card interest rates is 14.25% - 22.25% (V) from Simmons Bank Visa®. But there are several other low interest Visa credit cards available on the market.

If you want to finance a big purchase or planning to make a balance transfer, it's also worth considering a Visa credit card with a 0% APR. It's worth noting that Visa credit cards' interest rates aren't actually set by Visa....

Chase credit card interest rates can be as low as 0% intro APR for as long as 15 months. Regular, ongoing Chase credit card interest rates can be as low as 17.49% (V) or as high as 28.49% (V), depending on the card and the applicant's credit standing.

Chase Credit Card Interest Rates by Card

Bank of America credit card interest rates can be as low as 0% introductory APR for as long as 18 billing cycles. Regular, ongoing Bank of America credit card interest rates can be as low as 15.24% (V) or as high as 28.24% (V), depending on the card and the applicant's credit standing.

Bank of America Credit Card Interest Rates by Card

• Bank of America® Customized Cash Rewards credit card: 18.24% to 28.24% Variable
• Bank of America® Premium Rewards® credit card: 20.24% to 28.24% Variable
• BankAmericard® credit card: 15.24% to 25.24% Variable
• Bank of America® Customized Cash Rewards Secured Credit Card: 28.24% (V)
• Bank of America® Unlimited Cash Rewards credit card: 18.24% to 28.24% Variable
...

Capital One credit card interest rates can be as low as 0% introductory APR for as long as 15 months. Regular, ongoing Capital One credit card interest rates can be as low as 17.49% (V) or as high as 29.24% (V), depending on the card and the applicant's credit standing.

Capital One Credit Card Interest Rates by Card

• Capital One Quicksilver Cash Rewards Credit Card (see details, rates & fees): 19.24% to 29.24% (V)
• Capital One QuicksilverOne Cash Rewards Credit Card (see details, rates & fees): 29.74% (V)
• Capital One Savor Cash Rewards Credit Card (see details, rates & fees): 19.24% to 29.24% (V)
• Capital One VentureOne Rewards Credit Card (see details, rates & fees): 19.24% to 29.24% (V)
• Capital One Platinum Credit Card (see details, rates & fees): 29.74% (V)
• Capital One Spark Cash Select (see details, rates & fees): 17.49% to 23.49% (V)
...

Credit card interest rates can be as low as 0%, but only for a limited time. On the other hand, interest rates can pretty much go as high as consumers are willing to pay. That's largely because there is no national usury law and most credit card companies operate under charters that allow them to be federally regulated.

The highest interest rate among current credit card offers is 36% (First Premier), according to WalletHub's database of 1,000+...

Yes, a 14% APR on a credit card is good, especially when considering that the average interest rate among credit card offers is currently 22.76%. Not only is a 14% APR quite lower than the average, it is also lower than the average credit card interest rate for people with excellent credit, which is 17.68%.

A low APR is favorable if you plan on carrying a balance from month to month. For that purpose, a...