Guides / Data
Credit card vs. personal loan rates: the gap in Q2 2026
Short answer: Banks charged an average of 11.86% on 24-month personal loans and 20.94% on credit cards in Q2 2026, a gap of about 9 points, per Federal Reserve G.19 data. On cards that charged interest, the average was 22.15%. Paying off $10,000 over 24 months at the personal loan average saves about $1,187 in interest.
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24-month personal loan, banks
11.86%
Credit cards, accounts assessed interest
22.15%
What the gap costs on $10,000 over 24 months
| Monthly payment | Total interest | |
|---|---|---|
| Personal loan at 11.86% | $470 | $1,282 |
| Credit card at 22.15% | $520 | $2,469 |
| Difference | $49 | $1,187 |
Method: fixed payments over 24 months at each average rate, no fees. Card balances usually aren't paid on a fixed schedule, so real card costs vary. Origination fees on personal loans would reduce the savings.
Source and update schedule
Federal Reserve Statistical Release G.19, Consumer Credit, released September 8, 2026 (Q2 2026 rates). This page updates with each quarterly rate release. >Read the release.
Checking your rate uses a soft credit pull. Accepting an offer and finishing a lender's application may lead to a hard inquiry.
Rate gap questions
Is a personal loan always cheaper than a credit card?
Not always. Your rates depend on your credit, and a personal loan may carry an origination fee. Compare your actual offers.
Where does this data come from?
The Federal Reserve's G.19 Consumer Credit release, which reports average rates at commercial banks.
Will consolidating cards with a personal loan hurt my credit?
Pre-qualifying uses a soft pull. Taking the loan adds a hard inquiry and a new account, but paying down card balances can lower your utilization.