The prime rate today is 7.50% as of December 2024. Commercial banks use the prime rate to calculate the interest on consumer loans, credit cards, and mortgages.

Typically, the prime rate is around three percentage points higher; as of late December 2024, the Federal Reserve's rate is 4.33%, which correlates to the 7.5% prime rate.

From credit cards, car loans, mortgages, savings and student debt, here’s how the Federal Reserve’s interest-rate decision ...

Investopedia tracks over 300 credit card interest rates every month. For June 2025, the average credit card interest rate is ...