Credit Card Landscape Report

Credit card interest rates have edged lower, but carrying a balance remains costly. WalletHub reports the average interest rate on new credit card offers was 22.18% in Q2 2026, down from 22.73% a year earlier, while rates on existing accounts assessing finance charges averaged 22.15%. Card issuers are also competing for customers with richer rewards, with average initial cash-back bonuses increasing 18.89% year over year, even as the average annual fee climbed 17.64% to $29.67.

The combination of high borrowing costs and increasingly competitive card offers creates opportunities for banks, credit unions, financial advisors, credit counselors, debt management services and financial education providers. Sellers can help these businesses promote lower-rate options, balance transfers, rewards, debt reduction and financial guidance to consumers looking to make smarter use of credit.