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 22.39%.

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 22.39% 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...

A good interest rate on a credit card is 14% and below. That is roughly the average regular interest rate on credit cards for people with excellent credit. Even a relatively good interest rate on credit cards for people with lower scores is not all that low. For example, credit card users with good or fair credit could pay interest at an annual rate of 20%+ and still have a below-average APR. Better-than-average for a credit card overall isn't much...

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.

What you should know about Mastercard interest rates:

• Your credit score plays...

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 15.5% - 23.5% (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% for as long as 15 months. The best Chase credit cards with 0% interest rates are Chase Freedom Flex℠ and Chase Freedom Unlimited®, offering 0% for 15 months on purchases and balance transfers. They also come with $0 annual fees.

Regular, ongoing Chase credit card interest rates can be as low as 18.49% (V) or as high as 29.24% (V), depending on the card and the applicant's credit standing.

Chase Credit Cards...

The Bank of America credit card interest rate can be anywhere from 16.24% (V) to 28.49% (V). It depends on both your credit standing and which Bank of America credit card you apply for. All Bank of America credit card APRs are variable, meaning they can change over time.

Here are the Bank of America credit card interest rates:

• BankAmericard® credit card - 16.24% - 26.24% Variable regular APR. Intro APR of 0% for 18 billing cycles on purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days. 3% balance transfer fee.
• Bank of America® Unlimited Cash Rewards credit card...

Capital One credit card interest rates range from 0% (for a limited time) to 30.49% (V), depending on the card and the cardholder's creditworthiness. The best Capital One credit card for low interest rates is the Capital One Quicksilver Cash Rewards Credit Card because it offers 0% APR for 15 months on purchases and balance transfers, followed by a regular APR as low as 19.99% - 29.99% (V). This card also has a $0 annual fee.

The Capital One credit cards with the highest interest...

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+...

There is no federal law that limits the maximum credit card interest rate that a credit card company can charge. An exception would be a couple federal laws that limit interest rates charged for active duty servicemembers or their dependents. The Servicemembers Civil Relief Act (SCRA) limits interest rates for active duty servicemembers for credit card balances accrued before active duty. And the Military Lending Act (MLA) limits interest rates that may be charged on any balances to 36%.

There are...