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What’s an annual fee?
An annual fee is the yearly fee charged for some credit card products. Visit Better Money Habits for more information about choosing the right card for you.
What’s an annual percentage rate (APR)?
What’s a balance transfer fee?
What’s a late fee?
What’s a transaction fee?
What’s an interest charge, and when does it occur?
What’s a periodic rate?
What’s the Prime Rate?
What’s a cash advance fee?
What are the fees charged in a foreign country?
What’s a checkout fee, and when and how does it get charged to me?
Who is charging me this checkout fee, Bank of America or the merchant?
How much will I be charged?
Which states restrict or prohibit adding surcharges to credit card transactions?
Why was I charged a checkout fee when I reside in a no-surcharge state?
How will I know before I buy something if the merchant charges this fee?
Will the checkout fee be listed on the receipt?
What if I am charged too much, or my merchant didn’t disclose its fee policy?
Connect one on one with a credit card specialist
FAQs
Does Bank of America charge interest on credit card?
Low Introductory APR Offer Introductory 0% ? APR for your first 18 billing cycles for purchases, and for any balance transfers made within 60 days of opening your account. After the intro APR offer ends, a Variable APR that’s currently 15.24% to 25.24% will apply. A 3% fee (min $10) applies to all balance transfers.
How do I avoid interest on my Bank of America credit card?
You can avoid interest charges altogether on your Bank of America credit card by paying your balance in full and on time each month. Bear in mind, interest is charged from the day you withdraw cash from an ATM or bank and there is a cash advance transaction fee associated with cash advances.
How much does Bank of America charge for interest?
The Bank of America credit card interest rate can be anywhere from 14.24% (V) to 26.24% (V)
What is the APR penalty for Bank of America credit card?
Penalty APR and When it Applies None or Up to 29.99%, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. This APR may be applied to new transactions on your account if you: Make a late payment.
What is Bank of America’s minimum interest?
You will not be charged any interest on purchases if you pay your entire balance by the due date each month. Minimum Interest Charge. No less than $1.50.
How is interest charged on a credit card?
Here’s how it works. Credit cards charge interest on any balances that you don’t pay by the due date each month. When you carry a balance from month to month, interest is accrued on a daily basis, based on what’s called the Daily Periodic Rate (DPR). DPR is just another way of saying what your daily interest charge is.
Do you still pay interest if you pay in full?
Keep in mind that if you’ve carried a balance from one billing cycle to the next, you may still owe interest even if you then pay the new balance in full. You can reduce the amount of interest you’re charged by paying down more of your revolving balance and by paying it down quickly and on time.
How do I avoid monthly interest on my credit card?
Paying off your monthly statement balances in full within your grace period is one of the best ways to avoid getting into credit card debt. As long as you pay off your balance befograre your grace period expires, you can make purchases on your credit card without paying interest.
How is interest calculated at Bank of America?
We calculate interest by multiplying each Balance Subject to Interest Rate by its applicable DPR and that result is multiplied by the number of days in the billing cycle.
What is 24% APR on a credit card?
If you have a credit card with a 24% APR, that’s the rate you’re charged over 12 months, which comes out to 2% per month. Since months vary in length, credit cards break down APR even further into a daily periodic rate (DPR).
Do credit cards charge interest daily?
Credit card interest is typically compounded daily, which means your credit card issuer charges interest to your account each day based on its average daily balance. The larger your balance grows, the more interest that will be added on top of the amount you owe.
When should I pay my credit card bill to avoid interest?
If your starting credit card balance is $0, interest is typically not charged on your purchases until the day after your bill is due and only if on any remaining card balance. If you pay your entire credit card bill each month, you will not be charged interest.
Will I be charged interest on credit card if I pay the minimum?
If you pay the credit card minimum payment, you won’t have to pay a late fee. But you’ll still have to pay interest on the balance you didn’t pay. And credit card interest rates run high: According to December 2020 data from CreditCards.com, the national average credit card APR was 16.05%.
What is the 15 3 rule?
The 15/3 credit card payment hack is a credit optimization strategy that involves making two credit card payments per month. You make one payment 15 days before your statement date and a second one three days before it (hence the name).
Do you still pay interest if you pay in full?
If you pay off your credit card balance in full every month, for instance, the interest rate on the card doesn’t really matter.
Lower Interest Rate Credit Cards – Bank of America
Lower Interest Rate Credit Cards from Bank of America Info Layer TitleHelping our customers meet their financial needs is important to us. Before you leave, please take a moment to answer these 4 simple questions.Thank youYour responses will help us improve the Bank of America digital experience for all our customers.Close windowA lower interest rate credit card can help you save on the cost of debt by making it easier to pay down your balance faster.See if you’re pre-selected for card offersAnswer a few quick questions to see what offers are waiting for you.It will only take a minute and won’t impact your credit score.Check offersCheck offersUnderstanding credit is key to your financial healthSelecting a credit cardChoosing a credit card can be overwhelming. We’ve compiled some important considerations to help you pick the best credit card for you.Managing your credit cardGet the most out of your credit card. Find out how you can take advantage of all the opportunities that may be available to you as a cardholder.Paying down your debtBy following a few simple steps, you can help ensure you’re headed in the right direction when it comes to managing your credit card debt.Improving your creditBetter credit habits can lead to a better credit score. If you’re looking to improve your credit, check out some of our helpful tips.ZIP code Enter only 5 digits.Connect one on one with a credit card specialist
BankAmericard® Credit Card
BankAmericard® Credit Card Sign inLog inLocationsEn españolShow/Hide Menu related links Info Layer TitleHelping our customers meet their financial needs is important to us. Before you leave, please take a moment to answer these 4 simple questions.1. What was your primary reason for visiting this website today? (Please select all that apply) Apply for a Bank of America® credit card Research Bank of America® credit cards Service my existing credit card account Other reason (please specify)Please enter a reason 2. Did this website provide the information you needed? Yes NoWhy were you unable to get the information you needed? (Please select all that apply) Could not find the information Information was confusing/unclear Difficult to navigate the site Other reason (please specify)Please enter a reason 3. Do you plan to apply for a Bank of America credit card in the near future? Yes NoCould you please tell us why you don’t plan to apply? (Please select all that apply) Couldn’t find a product to meet my needs The offer/promotion was not compelling Didn’t like the website experience I already have a Bank of America credit card Other reason (please specify)Please enter a reason 4. What, if anything, would you suggest Bank of America change about this website?Please be as specific as possible To protect your identity, please do not submit personal or account information. Note that we cannot reply to questions asked via this form. Please contact us directly if you have any account or service related issues. By submitting your feedback, you agree Bank of America, its affiliates and any authorized parties may use, commercialize or reproduce the feedback without restriction or any compensation to you.Privacy & Security CloseThank youYour responses will help us improve the Bank of America digital experience for all our customers.Close windowWe’re sorry, this page is temporarily unavailable. We apologize for the inconvenience.Visit our homepageWe’re sorry, this page is temporarily unavailable. We apologize for the inconvenience.Visit credit card homepageInterstitial Link: language-change | Placeholder – hiddenOne or more of the cards you chose to compare are not serviced in English.Continue in English Go back to SpanishEnter your ZIP codeZIP code Enter only 5 digits.This card is unavailableConnect one on one with a credit card specialistSchedule an appointment
What are Credit Card Fees FAQ from Bank of America
What are Credit Card Fees FAQ from Bank of America Sign inLog inLocationsShow/Hide Menu related links Credit Card Interest Rates & Fees FAQsView questions about:Select FAQ topicExpand all panels | Collapse all panels What’s an annual fee? An annual fee is the yearly fee charged for some credit card products. Visit Better Money Habits for more information about choosing the right card for you. What’s an annual percentage rate (APR)? What’s a balance transfer fee? What’s a late fee? What’s a transaction fee? What’s an interest charge, and when does it occur? What’s a periodic rate? What’s the Prime Rate? What’s a cash advance fee? What are the fees charged in a foreign country? What’s a checkout fee, and when and how does it get charged to me? Who is charging me this checkout fee, Bank of America or the merchant? How much will I be charged? Which states restrict or prohibit adding surcharges to credit card transactions? Why was I charged a checkout fee when I reside in a no-surcharge state? How will I know before I buy something if the merchant charges this fee? Will the checkout fee be listed on the receipt? What if I am charged too much, or my merchant didn’t disclose its fee policy? Connect one on one with a credit card specialistSchedule an appointment
What Is the Bank of America Credit Card Interest Rate?
What Is the Bank of America Credit Card Interest Rate? This question is about Bank of America Credit Cards Maria Adams, Credit Cards Moderator @m_adams • 05/20/22 This answer was first published on 05/14/21 and it was last updated on 05/20/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company. The Bank of America credit card interest rate can be anywhere from 14.24% (V) to 26.24% (V). It depends on both your credit standing and which Bank of America credit card you apply for. All Bank of America credit card APRs are variable, meaning they can change over time. Here are the Bank of America credit card interest rates: BankAmericard® credit card14.24% – 24.24% Variable regular APR. Intro APR of 0% for 21 billing cycles on purchases and 0% for 21 billing cycles for any balance transfers made in the first 60 days. 3% (min $10) balance transfer fee. Bank of America® Unlimited Cash Rewards credit card16.24% – 26.24% Variable regular APR. Intro APR of 0% for 18 billing cycles on purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days. 3% (min $10) balance transfer fee. Bank of America® Customized Cash Rewards credit card16.24% – 26.24% Variable regular APR. Intro APR of 0% for 18 billing cycles on purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days. 3% (min $10) balance transfer fee. Bank of America® Travel Rewards credit card16.24% – 26.24% Variable regular APR. Intro APR of 0% for 18 billing cycles on purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days. 3% (min $10) balance transfer fee. Bank of America® Premium Rewards® credit card18.24% – 25.24% Variable regular APR. No intro APR. Bank of America® Premium Rewards® Elite Credit Card18.24% – 25.24% (V) regular APR. No intro APR. BankAmericard® Secured Credit Card25.24% (V) regular APR. No intro APR. Bank of America® Customized Cash Rewards Secured Credit Card26.24% (V) regular APR. No intro APR. Credit cards for students: Bank of America® Unlimited Cash Rewards Secured Credit Card26.24% (V) regular APR. No intro APR. BankAmericard® Credit Card for Students15.24% – 25.24% (V) regular APR. Intro APR of 0% for 18 months on purchases and 0% for 18 months on balance transfers. 3% (min $10) balance transfer fee. Bank of America® Travel Rewards Credit Card for Students16.24% – 26.24% (V) regular APR. Intro APR of 0% for 15 months on purchases. Bank of America® Customized Cash Rewards Credit Card for Students16.24% – 26.24% (V) regular APR. Intro APR of 0% for 15 months on purchases and 0% for 15 months on balance transfers. 3% (min $10) balance transfer fee. Bank of America® Unlimited Cash Rewards credit card for Students16.24% – 26.24% (V) regular APR. Intro APR of 0% for 15 months on purchases and 0% for 15 months on balance transfers. 3% (min $10) balance transfer fee. BankAmericard® Credit Card for Students15.24% – 25.24% (V) regular APR. Intro APR of 0% for 18 months on purchases and 0% for 18 months on balance transfers. 3% (min $10) balance transfer fee. Each Bank of America credit card also has more than one interest rate. There’s the regular APR, which applies to purchases and balance transfers and ranges from 14.24% (V) to 26.24% (V). Several cards have a 0% APR on purchases and/or balance transfers for a certain number of months, before the regular APR…
Best Bank of America® credit cards for September 2022
Best Bank of America® credit cards for September 2022 Compare Bankrate’s picks for best Bank of America credit cards Card Name Earns Preferred Rewards Best for Bankrate Review Score Bank of America® Unlimited Cash Rewards credit card Yes Cash back 3.4/5 (Read full review) Bank of America® Customized Cash Rewards credit card Yes Choice of rewards category 4.0/5 (Read full review) Bank of America® Premium Rewards® credit card Yes Best Bank of America travel card 4.2/5 (Read full review) BankAmericard® credit card No Balance transfers 4.1/5 (Read full review) Bank of America® Travel Rewards credit card Yes Qualifying travel purchases 3.8/5 (Read full review) Alaska Airlines Visa Signature® credit card No Alaska Airlines perks 3.7/5 (Read full review) Bank of America Business Advantage Customized Cash Rewards Mastercard credit card Yes Best Bank of America business card 3.3/5 (Read full review) Bank of America Business Advantage Unlimited Cash Rewards Mastercard credit card Yes Unlimited cash back business card 3.5/5 (Read full review) A closer look at our top Bank of America cards Bank of America Unlimited Cash Rewards credit card: Best for cash back What we love about this card: It is one of Bank of America’s simplest cash back credit card offerings. Cardholders get a straightforward 1.5 percent cash back rate on all purchases. Who is this card good for: Cash back newbies. If you’re new to the world of cash back rewards cards, this card is an accessible option with a straight-forward rewards structure. Alternatives: If you’re looking for another way to dive into the world of cash back, the Chase Freedom Unlimited® card is a solid alternative. It not only earns the same 1.5 percent cash back rate on general purchases, but also 5 percent cash back on travel through Chase and 3 percent back at restaurants and drugstores. Read our full Bank of America Unlimited Cash Rewards credit card review or jump back to offer details. Bank of America Customized Cash Rewards credit card: Best for choice of rewards category What we love about this card: It’s a lucrative, flexible cash back card that lets cardholders choose how they earn. Who is this card good for: People who prioritize flexibility but still want rewards. Cardholders will earn an elevated cash back rate in the category of their choice. Alternatives: If you’re looking for the same level of flexibility with less work on your part, the Citi Custom Cash℠ Card provides a solid alternative. Cardholders will earn elevated rewards in their highest spending category each billing cycle, but they won’t need to enroll in new categories each month. Citi will make the adjustments automatically. Read our full Bank of America Customized Cash Rewards credit card review or jump back to offer details. Bank of America Premium Rewards credit card: Best Bank of America travel card What we love about this card: This card offers solid travel protections and earns a decent rewards rate on travel purchases. Who is this card good for: Bank of America Customers who want to earn solid travel rewards for a low cost. Alternatives: The Chase Sapphire Preferred® Card provides a reasonable alternative to the Bank of America Premium Rewards card. With the Sapphire Preferred you’ll get many of the same travel perks and protections for the same low annual fee. Read our full Bank of America Premium Rewards credit card review or jump back to offer details. BankAmericard credit card: Best for balance transfers What we love about this card: It’s…
Best Bank of America Credit Cards – Investopedia
Best Bank of America Credit Cards of September 2022 Best Overall, Best Travel : Bank of America® Premium Rewards® Rating as a Bank of America Card Current OfferEarn 50,000 bonus points after you make at least $3,000 in purchases in the first 90 days of account opening. Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent Regular APR (%) 18.24% – 25.24% variable Annual Fee $95 Rewards Earning Rate Earn unlimited 2 points per $1 spent on travel and dining purchases and 1.5 points per $1 spent on all other purchases. Balance Transfer Fee Either $10 or 3% of the amount of each transfer, whichever is greater. Foreign transaction fee (%) 0% Why We Chose This Card: Pros & Cons: Why We Chose This Card: Bank of America Premium Rewards card is our choice for the best overall and best travel card from Bank of America due to its flexible redemption options, generous bonus points offer, and no foreign transaction fees. This card does charge a $95 annual fee, though that is in line with other popular travel rewards cards from competing issuers and should be easily justified with earnings from consistent use. Pros & Cons: Pros Rewards rates range between solid and standout Generous travel-fee credits Large bonus Cons No points-transfer partners No choice in travel vendors Read the full Bank of America® Premium Rewards® credit card review Best Student : Bank of America® Customized Cash Rewards for Students Rating as a Bank of America Card Current Offer$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent Regular APR (%) 16.24% – 26.24% variable Annual Fee $0 Rewards Earning Rate Earn 3% cash back in the eligible category of your choice, 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases. You’ll earn 3% and 2% cash back on the first $2,500 in combined categories each quarter, then 1%. INTRO PURCHASE APR 0% for 15 Statement Closing Dates INTRO BALANCE TRANSFER APR 0% for 15 Statement Closing Dates Balance Transfer Fee Either $10 or 3% of the amount of each transaction, whichever is greater. Foreign transaction fee (%) 3% Why We Chose This Card: Pros & Cons: Why We Chose This Card: Our winner for the best Bank of America student credit card is the Bank of America Customized Cash Rewards for Students because of its flexible cash back rewards program. This is a good card for students who want to build their credit while earning cash back on everyday items like gas, online shopping, and groceries. With no annual fee and a 15-month offer of 0% APR on purchases and balance transfers, it’s worth checking out. Pros & Cons: Pros 3% cash back on the category of your choice and 2% on groceries up to a quarterly combined spending cap 15-month 0% APR offer on purchases and balance transfers from the time of account opening Overdraft protection and rewards…
BoA Customized Cash Rewards Credit Card Review – Forbes
Bank of America Customized Cash Rewards Credit Card 2022 Review Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations. The Bank of America® Customized Cash Rewards credit card fits nicely in the wallet of Bank of America or Merrill customers. Cardholders can earn 3% cash back in the eligible category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. With Bank of America’s Preferred Rewards program, those earning rates can be increased by as much as 75% by keeping a significant chunk of cash in eligible accounts. Without Preferred Rewards, other cards may offer better return for your spending. Bank of America® Customized Cash Rewards credit card Regular APR 16.24% – 26.24% Variable APR on purchases and balance transfers Credit Score Good, Excellent Pros Bank of America Preferred Rewards clients earn 25% to 75% more cash back Good rewards earning potential Option to change 3% bonus category monthly Cons Bonus rewards have quarterly caps High balance transfer fee Foreign transaction fee Highlights $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. If you’re a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category. No annual fee and no expiration on rewards. New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% – 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers. Contactless Cards – The security of a chip card, with the convenience of a tap. This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now. Introduction A card that might appeal to those solely interested in cash-back rewards, the Bank of America® Customized Cash Rewards credit card offers no complex points system or luxurious travel rewards. Though the cash-back system has its limitations, this simplicity makes it an option worth looking at for those who don’t need a whole lot of extras. The card offers 3% cash back in the eligible category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. One nice touch of the select-your-category offering: Bank of America offers a decent variety of selectable categories. It defaults to gas, but a cardholder may also choose among online shopping, dining, travel, drug stores and home improvement and furnishings. Though the card leaves some features to be desired, which we’ll cover below, the bonus offer and decent everyday cash-back rewards make this both a solid starter rewards card and a mediocre card for those experienced with the rewards game. At a Glance No annual fee 3% cash back in the eligible category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening 0% intro APR for 18…
Best Bank of America Credit Cards of September 2022
Best Bank of America Credit Cards of September 2022 – NerdWalletHere are the top Bank of America® credit cards. Click the card name to read our review. Before applying, verify details on the issuer’s website:Bank of America® Customized Cash Rewards credit cardOur pick for: Bonus category cash backThe Bank of America® Customized Cash Rewards credit card gives you a little more control over your credit card rewards by letting you choose which category earns the highest cash-back rate, from a list that includes gas stations, restaurants, travel and others. You also get bonus rewards at grocery stores and supermarkets, plus a great new-cardholder bonus offer. Read our review.Bank of America® Unlimited Cash Rewards credit cardOur pick for: Simple cash backThe Bank of America® Unlimited Cash Rewards credit card is one of many 1.5% flat-rate cash-back cards on the market. It comes with a decent sign-up bonus, a generous intro APR period, and the potential to supercharge your earnings through Bank of America®’s Preferred Rewards program. Read our review.Bank of America® Travel Rewards credit cardOur pick for: Travel + no annual feeOne of the best no-annual-fee travel cards available, the Bank of America® Travel Rewards credit card gives you a solid rewards rate on every purchase, with points that can be redeemed for any travel purchase, without the restrictions of branded airline and hotel cards. Bank of America® has an expansive definition of “travel,” too, giving you additional flexibility in how you use your rewards. Read our review.Bank of America® Premium Rewards® credit cardOur pick for: Travel perks Like some other travel cards at its price point, the Bank of America® Premium Rewards® credit card gives you bonus rewards on travel and dining. But you also earn a higher rate on “other” spending than many competing cards offer. There’s a great sign-up bonus and some other good perks. And if you’re a Bank of America® Preferred Rewards customer, your rewards get even better. Read our review.BankAmericard® credit cardOur pick for: Balance transfers/intro 0% period The BankAmericard® credit card isn’t flashy, nor does it aim to be. You get one of the longest 0% introductory APR periods available anywhere, providing plenty of time to whittle down debt or finance a large purchase. And that’s about it. Read our review.Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit cardOur pick for: Small business cash backThe Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card gives entrepreneurs a little control over their credit card rewards by letting them choose which category earns the highest cash-back rate. Options include gas stations, office supplies, travel, computer services and more. There are also bonus rewards on dining and no annual fee. Read our review.Bank of America® Business Advantage Travel Rewards World Mastercard® credit cardOur pick for: Small business travel rewards This is the business version of the issuer’s excellent no-annual-fee travel card. The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card pays solid rewards on every purchase and gives you wide flexibility in redeeming your points for any travel purchase, without the restrictions of branded airline and hotel cards. Read our review.Other cards issued by Bank of America®:
Average credit card interest rates: Week of August 31, 2022
Average credit card interest rates: Week of May 25, 2022The average credit card interest rate is 18.17 percent.Interest rates on brand-new credit cards continue to climb, according to CreditCards.com’s latest weekly rate report.More than a month after the Federal Reserve announced its latest three-quarter-point rate hike, several more lenders adjusted the APRs they advertise on brand-new cards, including Discover, USAA and Navy Federal Credit Union.Until this week, Discover was among the last major lenders to match the Fed’s most recent rate hike. Bank of America, Chase, Citi, American Express, Wells Fargo, Barclaycard and U.S. Bank have also recently hiked the APRs they advertise by 0.75 percent. So have most smaller lenders, such as Fifth Third Bank, PNC, Union Bank, HSBC and KeyBank, among others.As a result, the national average card APR has broken record after record this summer, ultimately soaring to its highest point ever in recent weeks. Until this summer, the highest APR average CreditCards.com had ever recorded was 17.8 percent — a difference of 0.37 percentage points.Now, APRs are set to soar again as the Federal Reserve gears up for another big rate announcement and other lenders continue to catch up to previous federal rate hikes. So far, the Federal Reserve has increased rates by a historic 2.25 percentage points since March and is expected to hike rates again later this month.With more lenders still due for another rate hike, the average card APR is poised to soarCapital One is currently the only major outlier amongst the nation’s largest credit card issuers to not yet match the Fed’s July rate hike when it comes to new credit card offers. However, that doesn’t necessarily mean Capital One will leave new card APRs unchanged for good: although lenders aren’t required to adjust APRs on brand-new credit cards when federal interest rates change, most do. However, some lenders take longer than others to revise their online offers.With that said, it’s also possible that Capital One will sit out the Fed’s most recent rate hike but potentially take part in others.Capital One has a notable history of bucking trends when it comes to credit card interest rates. In March 2020, for example, it was the only major lender to decline cutting interest rates on brand-new Capital One cards after the Federal Reserve slashed rates by a point-and-a-half in response to economic softening from the pandemic.More recently, Capital One increased rates on most new credit cards after the Federal Reserve announced earlier spring and summer rate hikes, but it has generally left APRs on subprime Capital One cards unchanged.Meanwhile, USAA and Navy Federal Credit Union have also followed their own schedule for adjusting to federal rate hikes this summer. For example, both lenders had left APRs alone for much of the summer while other lenders hiked rates. However, they have since instituted multiple rate hikes in recent weeks as they catch up to the Fed.Another lender specializing in loans and banking services for military members and their families, Pentagon Federal Credit Union, has also chosen a more gradual path to rate hikes for new cardholders.This week, for example, the credit union announced a…