Rates for card categories tracked by CreditCards.com are listed below:
Credit Card Rate Averages
For the second week in a row, the average card APR sat at 15.36 percent, which is the highest national average APR that CreditCards.com has recorded since it began tracking rates in mid-2007.
Average rates on new card offers rose to record highs in December after the Federal Reserve bumped up the benchmark interest rate, the federal funds rate, by 0.25 percent.
Since then, nearly every major card issuer increased rates by the same amount.
After tweaking APRs in response to the Federal Reserve's December rate hike, most issuers left APRs alone this week. PNC Bank increased rates on its business cards by 0.25 percent, but the change was too small to affect the national average.
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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