Monthly commercial bank interest rate on credit card plans in the U.S. 1994-2024
Commercial bank interest rates on credit card plans in the United States were over six percent higher in early 2024 than in the same period in 2022. In February 2024, the interest amount on credit card plans amounted to 21.59 percent. Alongside this development, the overall amount of credit card debt in the U.S. reached an all-time high in Q4 2023. Credit cards are considered one of the most common ways to pay in the United States, so potential changes on credit card debt are closely tied to both the inflation figure and central bank interest rate of the country.
