The Prime Rate is the base interest rate that commercial banks charge their most creditworthy corporate customers. It is the foundation for most consumer loan pricing, including credit cards and home equity lines of credit (HELOCs).
Current Prime Rate
As of March 9, 2026, the current U.S. Prime Rate is:
6.75%
The next scheduled FOMC meeting to review interest rates is March 17–18, 2026.
Historical Trend (Full Data Since Inception)
The U.S. Prime Rate was established as a standardized benchmark in 1947. Since then, it has fluctuated from a low of 3.25% to a peak of 21.50% in December 1980.
| Effective Date | Prime Rate | Change |
|---|---|---|
| 2025-12-10 | 6.75% | -0.25% |
| 2024-09-18 | 7.00% | -0.50% |
| 2023-07-27 | 8.50% | +0.25% |
| 2023-05-04 | 8.25% | +0.25% |
| 2023-03-23 | 8.00% | +0.25% |
| 2023-02-02 | 7.75% | +0.25% |
| 2022-12-15 | 7.50% | +0.50% |
| 2022-11-03 | 7.00% | +0.75% |
| 2022-09-22 | 6.25% | +0.75% |
| 2022-07-28 | 5.50% | +0.75% |
Showing latest 10 changes. For full data, see the structural analysis below.
How It Affects Your Credit Card
Most credit cards have Variable APRs. Your specific rate is usually calculated as:
[Current Prime Rate] + [Bank Margin] = [Your Final APR]
For example, if the Prime Rate is 6.75% and your card’s margin is 12.49%, your total purchase APR would be 19.24%. When the Prime Rate changes, your card’s APR will typically change by the same amount on your next billing cycle.
Data sourced from the Federal Reserve Board of Governors.