Current Credit Card Interest Rates

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Current credit card interest rates

3-month trends
Variable

11/25/2020
16.03%

11/18/2020
16.02%

11/11/2020
16.02%

11/4/2020
16.02%

10/28/2020
16.02%

10/21/2020
16.02%

10/14/2020
16.02%

10/7/2020
16.02%

9/30/2020
16.02%

9/23/2020
16.02%

9/16/2020
16.02%

9/9/2020
15.99%

9/2/2020
15.99%

8/26/2020
16.03%

8/19/2020
16.03%

8/12/2020
16.04%

What are the different types of credit card interest rates?
Purchase APR: The interest rate on purchases, typically applied when your credit card balance isn’t paid in full each billing period.
Balance Transfer APR: The interest rate you owe on balances transferred from loans or other credit cards to the applicable credit card. For most cards, you begin with a low rate (even 0%) for a specified number of months before transitioning to the regular APR.
Introductory APR: This is an incentive offered by credit card companies to new applicants to give an especially low rate for a certain time period once an account has been opened. 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 balance transfer cards with introductory APR’s usually last a full year.
Cash Advance APR: This rate is applied when withdrawing money from an ATM or bank using your credit card.
Penalty APR: If you miss a due date, this rate could be applied. This rate is more extreme than typical APRs (can be as high as 29.99%) and will be lowered to the standard interest rate after six months of timely payments.
We have multiple resources to help you gain a better understanding of credit card interest rates. If you are interested in learning more, we recommend reading the following:
What is credit card APR?
How to get a lower credit card interest rate
What is introductory APR and how should you use it?
Fixed rate credit cards and why they are becoming so hard to find
Other credit card options: 0% interest credit cards, balance transfer credit cardsTo view more research from the Bankrate team, visit our credit card statistics center.

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