The Federal Reserve hasn’t made any interest rate changes so far in 2026, and that helped credit card rates settle down in the second quarter of the year. There were only slight changes in the credit cards studied by CardRatings.com.
While credit card rates overall have been fairly stable, there are still large differences in the rates and fees charged by specific cards. That allows consumers to find a better deal even if rates overall have stopped falling.
How did credit card rates change in the second quarter of 2026?
CardRatings.com found that the average credit card rate during the second quarter of 2026 was 23.89%. That represented a change of less than half a percent from the first quarter.
The outlook for rate changes has shifted since the year began. In 2024 and 2025, the Fed lowered rates by a total of 1.75%. More rate cuts were originally expected this year, but the latest information from the Fed shows that they might actually raise rates by year end.
Of course, the Fed doesn’t directly control credit card interest rates. That’s why rates for different cards can be very different. For consumers, this means it pays to keep a close eye on credit card rates. The differences between cards could save or cost you money.
➤ LEARN MORE:How does the Federal Reserve impact credit card interest?
Were all credit card rates stable in the second quarter?
Only two of the credit cards studied by CardRatings.com changed their rates last quarter. Interestingly, one raised its rates while the other lowered them.
While most credit cards kept rates unchanged during the quarter, there are still ways to find a lower rate.
For example, good credit scores are often rewarded with better credit card rates. Most credit cards charge a range of different rates. The low end of the range is for people with excellent credit, and the high end is for people with poorer credit. The added interest is intended to compensate the credit card companies for the fact that people with poor credit are more likely to miss payments.
How much of a difference does this make? The latest CardRatings survey found that the best rates offered by credit card companies averaged 19.89%. At the high end of the range, the average was 27.88%. The difference is 7.99% — an indication of how much you can save with excellent credit.
That spread between rates may become wider if the economy continues to struggle. Job growth has been erratic over the past couple years. Rising inflation increases the pressure on household budgets. These conditions could make credit card companies more cautious, especially when it comes to customers with weaker credit histories.
➤ SEE MORE:Why is it getting harder for people with low credit scores to get credit?
Are credit card fees still rising?
Some high-profile credit cards raised their fees last year, but fees have generally settled down so far in 2026.
The CardRatings.com survey found that the average annual credit card fee ended the first half of 2026 at $234.77, just over a dollar higher than it was at the end of 2025. That average only applies to cards that charge fees. Just over half the credit cards in the sample did not charge annual fees.
Among cards that do charge annual fees, these range from a low of $39 to a high of $895. Of course, the benefits associated with those fees also varies greatly. It’s important to measure the benefits you get from a credit card if you’re going to be paying a regular fee on it.
Typically, the benefits of cards with annual fees don’t include lower interest rates. Cards that charge an annual fee also tend to charge higher interest rates. The average rate on cards with annual fees was 24.85%, compared with 22.96% for cards that don’t charge those fees.
➤ SEE MORE:Best credit cards with an annual fee
Is this a good time to change credit cards?
Whether it’s interest rates or fees, this is a good time to take a fresh look at what you’re paying for your credit cards.
With rates levelling off after falling during the previous two years, your best chance at getting a lower rate may be to shop around.
Besides comparing interest rates and fees, keep in mind how you’re likely to use the card. For example, interest rates are only important if you expect to carry a balance on your card. As for fees, you should add up the value of any benefits you’re likely to receive as a cardholder to decide if it’s worth the cost.
This is a time of uncertainty for the economy. Be prepared to change your credit card habits in response.
➤ SEE MORE:Best credit card offers
Measuring the average credit card interest rate – methodology
The CardRatings.com study looked at 53 popular credit card offers and their terms at the start of the third quarter of 2026. These offers represent a cross-section of different card types for varying credit qualifications. CardRatings calculated the overall average interest rate and fee. It also broke down the data into different groups such as fee and no-fee cards and minimum and maximum interest rates.
This article was originally published in February 2024, but is updated quarterly to reflect the most recent available data.
