Credit card interest rate leaps from 8% to 15% in eight years, Senate hears

Research shows average interest rate almost doubled between 2007 and 2015, 'an extraordinary blowout' says comparison website Canstar The average interest rate on credit cards has almost doubled since 2007, a Senate inquiry has heard. On Tuesday the Senate committee was given an analysis by the comparison website Canstar which found the average credit card interest rate margin over the cash rate had grown from 8% in 2007 to 15% in 2015.