Average Credit Card Interest Rate by Year
Credit cards tend to carry relatively high interest rates compared with other types of debt, such as car loans or home loans. One reason is that most credit cards are unsecured. That means there's no asset, such as your home or car, that the card company can seize if you don't pay your credit card balance. Since credit card rates can be high, it's all the more important to be aware of how much interest you're paying and whether it's higher than it needs to be. One way to figure... read more »