Consumer credit rose to $5 trillion in January — ‘small cracks are starting to emerge,’ analyst says… Average APR is 28%.

  • Revolving debt, which mostly includes credit card balances, jumped 8.2% in January, according to the Federal Reserve’s latest consumer credit report.
  • Altogether, consumer debt, including student loans, auto loans and credit card debt, now stands at $5 trillion.
  • Higher prices driven by tariffs could stretch household budgets even more in the months ahead, experts say.

https://www.cnbc.com/2025/03/10/consumer-credit-rose-to-5-trillion-in-january-fed-reports.html

This says average APR is 28%:

Forbes Advisor’s weekly credit card rates report indicates that the current average credit card interest rate is 28.72%.

The Federal Reserve also tracks U.S. consumers’ average credit card interest rates. As of November 2024, it reported that the average credit card interest rate on accounts with balances incurring interest was 22.80%.

Keep in mind that annual percentage rates (APRs) on credit cards vary widely, and the rate you qualify for may not resemble the national average. Factors such as your credit score, age, income and other personal and financial information can impact the APR a credit card issuer offers you in a cardholder agreement.

https://www.forbes.com/advisor/credit-cards/average-credit-card-interest-rate/

 

Uh-oh! It looks like you're using an ad blocker.

Our website relies on ads and the generous support of readers like you to keep delivering free, high-quality content. Right now, we are facing serious funding challenges and we need your help more than ever. Disable your ad blocker and this message will vanish. You can also sign up for a membership to enjoy an ad-free experience while supporting our work: https://citizenwatchreport.com/plans/subscriptions/ Your support helps us stay independent, continue our work, and keep content free for everyone. We truly appreciate your understanding and thank you for standing with us.