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Current credit card interest rates
3-month trends Variable
6/23/2021 16.09%
6/16/2021 16.09%
6/9/2021 16.09%
6/2/2021 16.09%
5/26/2021 16.09%
5/19/2021 16.09%
5/12/2021 16.09%
5/5/2021 16.07%
4/28/2021 16.07%
4/21/2021 15.98%
4/14/2021 15.93%
4/7/2021 15.93%
3/31/2021 15.93%

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.

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