Average consumer credit card rate, overall market: 16.76 percent
Average consumer non-rewards credit card rate: 15.09 percent
Average consumer rewards credit card rate: 17.48 percent
Average business non-rewards credit card rate: 14.62 percent
Average business rewards credit card rate: 16.05 percent
Average student credit card rate: 16.67 percent
The U.S. prime lending rate is currently 3.25 percent. This rate is frequently used as the basis for credit card interest rates.
The most significant change in the above category averages was the drop in business credit card rates. Rates for business rewards credit cards dropped 16 basis points to 16.05 percent. (Business non-rewards credit card rates fell also, but that can be partly attributed to a change in the selection of cards surveyed.) This break for business customers is consistent with the impression that the business sector is faring much better than individuals in the current economic recovery.
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