New report shows credit card interest rates are climbing

(NBC) - Credit card interest rates are climbing.

Credit card interest rates are climbing. According to a new report from Creditcards.com, the average APR for a store-branded retail credit card is more than 26 percent. (NBC)

According to a new report from Creditcards.com, the average APR for a store-branded retail credit card is more than 26 percent.

That's nearly five percent more than an average credit card (21.1 percent).

Those store-only cards often have a deferred interest promotion period, but then retroactively hit any remaining balance when that period ends.

Industry analyst Ted Rossman says you'd likely be better off with a 0 percent offer from a general-purpose credit card.