Banks increasing spreads of interest rates on credit card loans in the U.S. 2006-2024

Published by
Fernando de Querol Cumbrera,
Mar 4, 2024
In the first quarter of 2024, large banks in the United States were increasing their interest rate spreads on credit card loans significantly more than other domestic banks. The percentage of large banks increasing their interest rate spread on credit cards minus the percentage of those decreasing that spread was 15 percent, which means that there were significantly more banks of that size increasing their spread on those rates.

Net percentage of domestic banks increasing spreads of interest rates over banks' cost of funds on credit card loans in the United States from 1st quarter 2006 to 1st quarter 2024, by bank size

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Release date

February 2024

Region

United States

Survey time period

1st quarter 2006 to 1st quarter 2024

Special properties

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Supplementary notes

Figures obtained from the Federal Reserve Bank of St. Louis for both large banks and other banks.

This figures show the difference between the banks reporting an increase and those reporting a decrease of the interest rate spreads of credit card loans. Negative figures mean that there are more banks increasing those spreads, while negative figures show that most banks are not increasing their spreads. Meanwhile, spread is the term used to refer to the difference between the interest rate that private borrowers have to pay for credit card loans and the interest that the bank has to pay to borrow money (cost of fund).

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