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Current Credit Card Interest Rates

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Current credit card interest rates
3-month trends Variable
8/10/2022 17.58%
8/03/2022 17.42%
7/27/2022 17.35%
7/20/2022 17.25%
7/13/2022 17.13%
7/06/2022 17.01%
6/29/2022 16.91%
6/22/2022 16.80%
6/15/2022 16.73%
6/08/2022 16.68%
6/01/2022 16.61%
5/25/2022 16.53%
5/18/2022 16.51%
5/11/2022 16.44%
5/04/2022 16.41%
4/27/2022 16.40%

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:

Other credit card options: 0% interest credit cards, balance transfer credit cards

To view more research from the Bankrate team, visit our credit card statistics center.