Rates for card categories tracked by CreditCards.com are listed below:
For the first time in nearly five years, the national average annual percentage rate (APR) rose to 15.22 percent.
The last time rates were this high was in December 2011 when the national average briefly peaked at 15.22 percent. At that time, rates stayed above 15.10 for just four weeks before dropping below 15 percent in January 2012. This year, rates have remained solidly above 15.10 percent since January 6 and show no sign of dropping anytime soon.
Unlike most rate changes, this week's change was due to a replacement in the credit card database rather than a change in terms. Occasionally, CreditCards.com reshuffles cards in the database in order to more accurately reflect the current card market.
The CreditCards.com credit card rate survey (permalink: http://www.creditcards.com/rate-report) is conducted weekly, using offer data from leading U.S. card issuers' websites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.
CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, http://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.
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