AUSTIN, Texas, Feb. 11, 2015 /PRNewswire/ -- Average rates on new credit card offers remained stuck at 14.89 percent Wednesday for the sixth consecutive 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 |
14.89% |
14.89% |
15.03% |
10.24% |
10.24% |
10.37% |
|
12.80% |
12.80% |
12.64% |
|
12.85% |
12.85% |
12.80% |
|
13.14% |
13.14% |
13.27% |
|
14.91% |
14.91% |
14.91% |
|
15.52% |
15.52% |
15.46% |
|
14.89% |
14.89% |
15.00% |
|
23.33% |
23.33% |
28.00% |
|
22.73% |
22.73% |
22.73% |
|
Source: CreditCards.com |
|||
Updated: 02-11-2015 |
None of the issuers tracked by CreditCards.com altered rates this week. Promotional terms, including introductory APRs and balance transfer offers, also remained unchanged.
Most issuers tracked by CreditCards.com have left credit card APRs alone since the beginning of the year. As a result, the national average annual percentage rate (APR) is lower now than it's been in years.
For most of 2014, average rates hovered just above 15 percent. In early November, the national average APR slid to 14.98 percent before continuing to periodically decline through the rest of the year. By Dec. 30, the national average had fallen to a two-and-a-half year low of 14.91 percent.
The CreditCards.com credit card rate survey (permalink: http://www.creditcards.com/rate-report) is conducted weekly, using offer data from the 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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