But why are credit card interest rates so high right now? It has a lot to do with where the economy stands, how the Federal ...

To calculate your credit card interest using the average daily balance method, divide your annual percentage rate by 365 to determine ... is typically your card’s standard APR and can be found ...

You aren't necessarily stuck with your current credit card rates. These simple strategies could help lower them.

Rep. Alexandria Ocasio-Cortez introduced a bill that would cap credit card interest rates at 10%. The average annual percentage rate on credit balances has jumped to 21% in 2024 from 12% in 2003.

At the same time, credit card interest rates are "very high," averaging 23% annually in 2023, the New York Fed found, also making credit cards one of the most expensive ways to borrow money.