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19.04%: Credit Card Interest Rates Hit Record High

View Source | November 10, 2022 6:59 am

  • The cost of carrying a balance on your credit card is now the highest it’s been.
  • According to survey data from Bankrate.com, the average credit card interest rate has climbed to 19.04%.
  • “Bankrate has been surveying credit card rates since 1985, and this eclipses the previous all-time high of 19.00% from July 1991,” Bankrate chief financial analyst Greg McBride wrote Wednesday.
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