While the U.S. Federal Funds Rate and the interest rates on U.S. Treasury securities sunk to or near their all-time lows during the pandemic, credit card borrowers didn’t benefit to the same degree.

For example, we analyzed more than 100 consumer credit cards across seven of the largest issuers in the United States. And we found that the average annual percentage rate (APR) ranges from 16.22% – 23.94%. Moreover, the median APR ranges from 15.24% – 23.99%.

In addition, Discover (13.85%) has the lowest average low-end APR, while Capital One (22.94%) has the highest average low-end APR. What’s more, all of the institutions in our study have average and median high-end APRs that exceed 22%.

Average Credit Card Interest Rates and APR of July 2025: Charts, Graph, Analysis

Average Credit Card APR by Institution

Chase (26) and Capital One (21) combine to account for nearly half of all the credit cards available.

However, Capital One’s gift is also its curse. For example, the Capital One VentureOne Rewards, Quicksilver Rewards, and SavorOne Rewards cards have low-end APRs of 14.99%. However, 67% of Capital One’s credit cards have low-end APRs of 24.99% or more. Likewise, 48% of Capital One’s credit cards have low-end APRs of 26.99%. As a result, its average and median values are much higher than its competitors.

Conversely, Chase’s minimum low-end APR (13.99%) is 1% less than Capital One’s minimum (14.99%), and none of Chase’s credit cards have high-end APRs that exceed 23.99%.

Next on the docket, American Express (2) and Bank of America (2) offer credit cards with low-end APRs less than Chase and Capital One. For example, the Amex EveryDay Preferred and Amex EveryDay cards have low-end APRs of 12.99%. Similarly, BankAmericard and BankAmericard for Students also have low-end APRs of 12.99%.

Moreover, while many of Bank of America’s credit cards have competitive APRs, its three secured cards have interest rates of 22.99% and 23.99%. As a result, the APRs on these collateralized options helped uplift Bank of America’s (16.18%) average low-end APR. Conversely, Bank of America’s (13.99%) median low-end APR was less affected by the outliers.

To that point, while Bank of America has the second-highest average low-end APR of the seven issuers on our list, it has the second-lowest low-end median APR among the potential candidates.

Continuing the theme, Wells Fargo (3) and Discover (7) have the least amount of credit card options available. However, they rank first and second among issuers with the lowest average low-end APRs. And right in the middle of the pack, Citigroup is the only issuer in our study that offers credit cards made exclusively for Costco members.

Average Credit Card APR for Business

Parsing the data from another 39 business cards, we found that the U.S. average APR ranges from 14.27% – 21.87%, and the U.S. median APR ranges from 13.99% – 21.97%.

Moreover, Wells Fargo (10.88%) has the lowest average low-end APR, while Capital One (17.74%) has the highest average low-end APR. And though it’s a slight improvement over consumer credit cards, all of the institutions’ business credit cards in our study have average and median high-end APRs that exceed 20%.

In addition, American Express (14) has the most business credit card options to choose from, while Chase (7) and Capital One (7) tie for second. For context, the rows below labeled as “N/A” are like that because the American Express Plum Card and the Capital One Spark Cash Plus Card require businesses to pay their credit card balances in full each month. Also, please note that the former offers a 60-day grace period for late payments. However, no APRs are listed for either option.

Average Credit Card APR for College Students

For credit cards designed specifically for students, Discover (12.99%) and Bank of America (12.99%) offer products with the lowest low-end APRs. Conversely, Capital One’s (26.99%) three student credit cards have the highest low-end APRs.

Across the entire basket, the U.S. average APR for student credit cards ranges from 17.69% – 23.49%. However, Capital One’s high student APRs push up the low-end average. As a result, the low-end U.S. average APR for student credit cards is 13.70%, excluding Capital One’s products.

Average Credit Card APR for Cash Back Cards

Since cash is king for many Americans, we compared the average, and median APRs offered on cash-back credit cards. American Express (13.99%) has the lowest average low-end APR on one side of the coin. On the other side, Capital One (23.52%) has the highest average low-end APR.

Moreover, the U.S. average APR for cash-back credit cards ranges from 16.10% – 23.59%. Likewise, the median ranges from 14.80% – 23.99%.

We found that Discover (11.99%) has three products with the lowest low-end APR when analyzing individual credits cards. Moreover, Bank of America, American Express, and Citigroup (13.99%) tie for second place.

For context, Capital One (15) and Bank of America (7) have the highest number of cash-back credit cards in their portfolios. However, the former’s APRs are much less competitive than the latter’s metrics.

Average Credit Card APR for Travel Rewards Cards

Travel rewards credit cards offer an easy way to earn free flights, hotel accommodations, and meals to make the most out of your next vacation. And when isolating the group, we found that Discover (11.99%) has the lowest average low-end APR, while Capital One (18.74%) has the highest average low-end APR.

Likewise, the U.S. average APR for travel rewards credit cards ranges from 15.54% – 23.87%, while the median ranges from 15.81% – 23.89%.

Zooming in for a closer look, Discover (11.99%) wins the gold medal for the lowest low-end APR within the category. Conversely, Chase and Bank of America (13.99%) earned the silver medal.

However, Chase (20) has the most credit card options available within the travel rewards category, while American Express (11) is a distant second. Moreover, Wells Fargo and Discover only have one credit card available within the travel rewards category, and their only options allowed them to maintain constant average and median statistics.

Average Credit Card APR by Credit Score

When determining your qualified credit card interest rate, lenders emphasize your credit score. As a result, a high or low score can make or break the APR you obtain.

For example, we found that credit card products requiring excellent credit have lower low-end APRs than options at the other side of the spectrum. Moreover, unsecured credit cards designed for Americans with good credit often have more than 20% flat APRs.

Likewise, secured credit cards — which require you to post collateral — also skip the APR ranges and include flat rates. Furthermore, all of the options in our study have APRs north of 20%.

Average Credit Card APR at U.S. Commercial Banks

The latest data from the Fed shows that the average credit card interest rate charged on all accounts by U.S. commercial banks is 14.51%. Moreover, on accounts assessed interest, the figure increases to 16.44%. U.S. commercial banks’ average credit card interest rates on all accounts and accounts assessed interest have increased by 2% and 12%, respectively, since 2010.

How Do I Reduce My Credit Card APR?

While credit card companies determine your APR by assessing your overall creditworthiness, we have a few tips to get you on the fast track to a lower interest rate.

Build a Reliable Credit History:

While somewhat obvious, building a reliable credit history can make you more attractive in the eyes of lenders. The first step is to raise your FICO Score to at least 670. Then, when using existing credit cards, keep monthly purchases to less than 30% of your balance limit.

Shop Around for the Best Offers:

With so much competition in the lending space, institutions often make interest rate concessions to attract new clients. While some lenders may reject your application, others often go out of their way to provide unique offers to secure your business.

Talk to Your Financial Institution:

Often overlooked as a way to lower your credit card APR, simply asking can often move the needle. If you have an existing relationship with an institution and are known as a long-term and loyal customer, they’ll usually work with you to avoid losing your business. When calling, explain your circumstances and ask if they can help. Moreover, if you have readily available offers from other institutions, they’re more likely to accommodate your request.

How We Conducted The Study

To determine the average credit card interest rate in the U.S., we analyzed the product offerings and terms at seven of the largest credit card issuers in the U.S. After which, we parsed the data by several metrics to provide the broadest depiction of what Americans confront in today’s marketplace.

Our goal is to consolidate the information and present the findings in a way that’s easy to understand by parsing through the latest data from reliable sources. If you enjoyed the study, please provide your feedback. Moreover, if there is anything that we missed or anything that you believe needs updating, please let us know, and we will respond promptly.

Conclusion

While the Fed reduced interest rates to help shore up Americans’ finances during the coronavirus pandemic, the largest credit card issuers weren’t so kind. Moreover, with high financing costs poised to move even higher in 2022 — once the Fed begins its expected rate hike cycle — you should consider other types of loans before obtaining a credit card.

For example, U.S. commercial banks charge an average interest rate of 9.39% on 24-month personal loans. As a result, an unsecured personal loan is a more attractive financing option than unsecured credit card debt.

Sources

American Express

Chase

Bank of America

Citigroup

Capital One

Wells Fargo

Discover