U.S. Consumer Borrowing Costs, 2021 to 2026: Credit Card, Personal Loan and Auto Rates
Credit card interest sits near 21% on average. A 24-month personal loan averages 11.86%. Here are the Federal Reserve's numbers side by side.
Average interest rates
| Series | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 Q2 |
|---|---|---|---|---|---|---|
| Credit card, all accounts (%) | 14.60 | 16.26 | 20.90 | 21.58 | 21.22 | 20.94 |
| Credit card, accounts assessed interest (%) | 16.45 | 17.91 | 22.15 | 22.89 | 22.32 | 22.15 |
| Personal loan, 24-month (%) | 9.38 | 9.87 | 11.87 | 12.27 | 11.50 | 11.86 |
| New car loan, 60-month, bank (%) | 4.82 | 5.36 | 7.83 | 8.16 | 7.65 | 7.14 |
| New car loan, 72-month, bank (%) | 4.82 | 5.50 | 7.89 | 8.29 | 7.80 | 6.97 |
Commercial bank interest rates, not seasonally adjusted, as published by the Federal Reserve. Annual columns are annual averages as published; 2026 Q2 is the latest quarter in this release.
Consumer credit outstanding
| Series | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 Q2 |
|---|---|---|---|---|---|---|
| Total consumer credit outstanding ($bn, seasonally adjusted) | 4,512.7 | 4,858.4 | 4,988.2 | 4,947.2 | 5,098.8 | 5,168.1 |
| Revolving credit ($bn) | 1,033.5 | 1,192.6 | 1,298.9 | 1,297.0 | 1,324.3 | 1,354.4 |
In July 2026, total consumer credit stood at $5,186.2 billion (preliminary), with revolving credit at $1,357.2 billion, per the same release. Student loans were $1,858.2 billion at the end of June 2026.
What it means for you
Use the debt payoff calculator to see what a card balance costs at 22% versus 12%. Compare real offers on personal loans and read SoFi vs Upstart. Averages are not your rate: your offer depends on your credit profile, income and the lender.
Financialist Editorial Team. "U.S. Consumer Borrowing Costs, 2021 to 2026: Credit Card, Personal Loan and Auto Rates." Financialist, October 5, 2026. https://financialist.com/research/us-consumer-borrowing-costs
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