The legislation would dramatically lower card rates, which average 21.5%. Even so, industry experts say, the legislation could both help and hinder consumers. The bill’s sponsors ...

Banks quickly raised interest rates to record levels and added new monthly fees on credit cards last year when a Consumer Financial Protection Bureau rule threatened a key revenue source for the ...

Sky-high credit card interest rates are making it hard for many Americans to pay off their growing debt piles.

"Credit card rates are high, and they're staying high," Ted Rossman, a senior industry analyst at Bankrate, told ABC News. To set credit card interest rates, the industry relies on what's called a ...

The average interest rate on store credit cards reached 30.45% this year, an all-time high, according to the personal finance site Bankrate. Another industry survey, from WalletHub ...

Yet both have advocated for a 10 percent cap on credit card interest rates. This would be devastating to the credit card industry. The current average Annual Percentage Rate (APR) paid is 19 percent, ...

In recent years, credit card companies have faced criticism ... quo and putting a reasonable cap on interest rates." Ted Rossman, senior industry analyst at Bankrate, previously told Newsweek ...

These interest rate cuts follow an industry trend of falling interest rates. Apple introduced the Apple Card Savings Account in April 2023 with a 4.15% APY. The account received a number of ...

While this is down from its highest point at 4.5% APY, Apple’s rate still holds quite strong to the rest of the banking industry. Apple begun offering the Apple Card Savings Account in April ...

banks quickly raised interest rates to record levels and added new monthly fees on credit cards when a Consumer Financial Protection Bureau rule threatened a key revenue source for the industry.