The average credit card interest rate in the US is 19.71% as of 4 November 2026, according to Bankrate’s weekly national survey — down from a record high of 20.79% set in August 2024, but still far above where it was a decade ago.

Why different sources show different averages

  • Bankrate: 19.71% — its weekly survey of large banks and thrifts, updated 4 November 2026
  • WalletHub: 22.46% for new credit card offers and 21.19% for existing accounts, as of November 2026
  • Federal Reserve: about 22.15% — the average rate actually assessed on accounts that carried a balance, in the second quarter of 2026
  • The figures differ because they measure different things: Bankrate tracks the rates banks advertise, WalletHub tracks new offers, and the Fed tracks the interest people actually pay on balances they carry

The bigger picture

  • The prime rate — the benchmark most card rates are tied to — is currently 7%
  • The Federal Reserve held its benchmark rate at 3.75%–4.00% on 28 October 2026, so card rates are unlikely to fall quickly
  • Americans owed $1.263 trillion in credit card debt as of the second quarter of 2026, according to the New York Fed — just below the record $1.28 trillion
  • At about 22% APR, a $3,000 balance paid down at $150 a month costs roughly $780 in interest

What borrowers can do

  • 0% intro APR cards can pause interest entirely: the Wells Fargo Reflect Card offers 0% for 21 months on purchases and qualifying balance transfers, and the Citi Diamond Preferred Card offers 0% for 21 months on balance transfers
  • Paying more than the minimum each month and avoiding new purchases on a card carrying a balance are the fastest ways to cut interest costs

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