CreditCards.com Weekly Credit Card Rate Report: Average card rate remains at 15.16 percent for sixth week

Mar 17, 2016, 09:18 ET from CreditCards.com

AUSTIN, Texas, March 17, 2016 /PRNewswire/ -- The average credit card interest rate remained locked in place this week, according to the CreditCards.com Weekly Credit Card Rate Report.

The average is comprised of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation.

Rates for card categories tracked by CreditCards.com are listed below:

Credit Card Rate Averages


Avg. APR

Last week

6 months ago

National Average

15.16%

15.16%

15.00%

Low Interest

11.96%

11.96%

11.62%

Balance Transfer

14.36%

14.35%

14.12%

Business

13.12%

13.12%

12.85%

Student

13.42%

13.42%

13.14%

Cash Back

15.21%

15.21%

15.27%

Airline

15.17%

15.17%

15.10%

Reward

15.26%

15.26%

15.14%

Instant Approval

18.04%

18.04%

18.00%

Bad Credit

22.56%

22.56%

22.73%

Source: CreditCards.com


Updated: 3-16-2016


For the sixth consecutive week, the national average annual percentage rate (APR) remained at 15.16 percent. Most card issuers left interest rates alone this week.

Regions Bank reinstated its quarter point increase on the Regions Visa Platinum card after briefly canceling the card's rate increase in early March. Cardholders are now offered a range of APRs starting at 13.24 percent and topping out at 20.24 percent.

Among the 100 cards included in the CreditCards.com database, 94 cards have increased rates by 0.25 percent since the Federal Reserve increased the federal benchmark interest rate by the same amount.

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.

About CreditCards.com
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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SOURCE CreditCards.com



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