What is the average APR on credit cards?
The average APR (Annual Percentage Rate) on credit cards in Delaware can vary greatly. It is important to pay attention to the specifics of each individual card, as the APR can range from around 8% to over 25%. Interest rates are based on the creditworthiness of the cardholder, and the rates can vary depending on the type of credit card. For example, some rewards cards may offer a higher rate than a traditional card. Additionally, if a credit card company perceives a higher risk, they may offer a higher rate to offset the risk. Interest rates are also based on the Prime Rate, which was 3.25% as of April 2021. This rate is usually adjusted regularly, so the average APR on credit cards in Delaware can change accordingly. Overall, interest rates on credit cards in Delaware can range from around 8% to over 25%, depending on the type of card and the creditworthiness of the cardholder. It is important to pay attention to the specific terms and conditions of each card, as they can vary greatly.
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