CreditCards.com Weekly Credit Card Rate Report: Average card rates remain at 14.96 percent for third week

02 Dec, 2015, 14:30 ET from CreditCards.com

AUSTIN, Texas, Dec. 2, 2015 /PRNewswire/ -- Average rates on new credit card offers remained flat 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

14.96%

14.96%

14.99%

Low Interest

11.62%

11.62%

11.62%

Balance Transfer

14.07%

14.07%

14.13%

Business

12.85%

12.85%

12.85%

Student

13.14%

13.14%

13.14%

Cash Back

15.27%

15.27%

15.28%

Airline

14.91%

14.91%

15.10%

Reward

15.09%

15.09%

15.12%

Instant Approval

18.00%

18.00%

17.93%

Bad Credit

22.73%

22.73%

22.73%

Source: CreditCards.com


Updated: 12-02-2015


For the third week in a row, the national average annual percentage rate (APR) remained at 14.96 percent.

Most issuers left interest rates alone this week. The sporting goods store Cabela's increased the APR on the Cabela's Club Visa card by 0.05 percent after the 1-month Libor rate changed. However, the rate hike was too small to affect the national average. Sporting enthusiasts who apply for a Cabela's Club card are now offered a range of APRs starting at 15.23 percent and topping out at 21.23 percent.

Bank of America was also active. It eliminated the 12-month 0 percent introductory APR on the BankAmericard Better Balance Rewards card, but it left the card's interest-free balance transfer offer intact.

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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