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Key insights on retail credit card interest rates in 2024. ... Among store-only credit cards — also known as closed-loop cards — the average is 31.80 percent. Among co-branded cards — also ...
Retail credit card interest rates reach record high. Jeanne Sahadi, CNN. September 12, 2024 at 1:52 PM. lechatnoir/E+/Getty Images. ... The average rate on a store card was 30.45%, up from 24.35% ...
According to Bankrate, at least 50 of the country’s largest retailers jacked up the interest rates on their store-brand credit cards in the months before the federal reserve began cutting rates ...
The Consumer Financial Protection Bureau (CFPB) released its new Explore Credit Cards tool this week, intended to allow consumers to compare more than 500 credit cards based on “unbiased ...
Several big-box store cards charge 35.99% interest. Credit card rates hit historic highs alongside an aggressive campaign of rate hikes by the Fed in 2022 and 2023.
For some retail credit cards, interest rates are still rising. The average retail card rate increased by more than a full percentage point over the past year, according to Bankrate .
Key credit card interest rate insights. Highest average credit card interest rate in 2024: 20.79 percent (Aug. 24, 2024) ... The average retail card, for instance, charges about 30 percent.
The average credit card interest rate for retail stores has hit a record high of 26.72 percent while general purpose credit cards now charge an average of 22.6 percent, according to a study ...