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Retail credit card interest rates reach record high. ... The average rate on a store card was 30.45%, up from 24.35% in 2021 and well above the current average for credit cards overall (roughly 21 ...
The average retail credit card currently charges a record-high 30.45 percent APR. That’s up from: 28.93 percent in 2023. 26.72 percent in 2022. 24.35 percent in 2021. For comparison, the average ...
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 ...
The jump in average credit card rates to 20.72% today from 16.16% two years ago is almost fully attributable to the Fed's rate hikes to tamp down on inflation, Rossman said. Keeping credit ...
Best Overall: Capital One Walmart Rewards Mastercard. APR: Depending on credit score, 17.99% – 26.99% variable APR. Annual Fee: None. Benefits: Open-loop card — can be used anywhere Mastercard ...
A store offers you a huge discount if you sign up for a credit card. It promises a full year of interest-free purchases, along with cardholder-exclusive perks like coupons and receipt-free returns.
CNBC recently reported that the average store card has a 28.93% APR, store-only cards charge an average of 30.24% interest, but the average interest on a credit card is 21.19%. So, even though it ...
Store credit cards also tend to have lower credit limits than regular credit cards. This can affect your credit utilization. An ideal credit utilization is somewhere around 30% or less.