Are you wondering what the average credit card APR rate is? Do you wonder whether you’re in that “average” category or above? According to the Federal Reserve, the average credit card interest rate as a whole is 12.51 percent.
But, APR changes significantly depending on the type of credit card you’re using. For example, the average credit card APR for low interest credit cards is around 12 percent, whereas the average APR for instant approval credit cards is over 16 percent.