CreditCards.com Weekly Credit Card Rate Report: Average card rates remain at 15.01 percent for 8th week

AUSTIN, Texas, June 25, 2014 /PRNewswire/ -- Interest rates on new card offers 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

15.01%

15.01%

15.06%

Low Interest

10.37%

10.37%

10.46%

Balance Transfer

12.64%

12.64%

12.55%

Business

12.80%

12.80%

12.98%

Student

13.27%

13.27%

13.27%

Cash Back

14.91%

14.91%

14.62%

Airline

15.30%

15.30%

14.51%

Reward

14.97%

14.97%

14.91%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

22.73%

22.73%

23.48%

Source: CreditCards.com

Updated: 6-25-2014

The national average annual percentage rate (APR) remained fixed at 15.01 percent Wednesday for the 8th consecutive week.

Credit card issuers have been slow to change card terms for most of 2014. For example, it's been nearly two months since the last time a credit card issuer revised the APR on a card tracked by CreditCards.com. Meanwhile, the national average APR has changed just five times since Jan. 1. Issuers left promotional terms unchanged this week as well.

Chase did remove several cards from its promotional pages this week, including the Sapphire card. However, it left the cards' premium versions, such as the Sapphire Preferred card, alone. It's not yet clear whether the cards will eventually return.

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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