Rep. Alexandria Ocasio-Cortez introduced a bill that would cap credit card interest rates at 10%. The average annual percentage rate on credit balances has jumped to 21% in 2024 from 12% in 2003.

The average annual percentage rate on credit cards—or the interest firms charge their borrowers—increased to a record-high 22.8% in 2023 from 12.9% in 2013, according to the Consumer Financial ...

The average credit card interest rate was a whopping 21.47% in the fourth quarter of 2024, according to data from the Federal Reserve.But, your own credit card interest rate is likely to be different.

When short-term interest rates go up, such as the prime rate, rates on your credit card are likely to rise. Your card's terms and conditions might say: "We add 12.74% to 19.74% to the prime rate ...

Rep. Alexandria Ocasio-Cortez introduced a bill that would cap credit card interest rates at 10%. The average annual percentage rate on credit balances has jumped to 21% in 2024 from 12% in 2003.

ERIC DEGGANS, HOST: Americans are carrying massive credit card debt, $1.17 trillion according to the Federal Reserve Bank of New York. And with high interest rates, not paying those bills on time ...

Capping credit card interest rates will adjust the game’s rules, but there are still billions to be made even with a 10 percent interest rate cap. And let us not forget the money generated on ...

Even the federal rates for unsubsidized graduate student loans (4.30%) and parent loans (5.30%) don't come close to credit card interest rates. 2. Credit cards are unpredictable ...

The average credit card interest rate was 21.5% as of this past May, according to data provided by the Federal Reserve. Rates had surged starting in early 2022 amid red-hot inflation coming out of ...

Because credit card interest rates are high, you should try to pay off your credit card debt as quickly as possible. That’s the only way credit card rewards actually help.