CreditCards.com Weekly Credit Card Rate Report: Average card rates remain unchanged at 15.03 percent

AUSTIN, Texas, Aug. 13, 2014 /PRNewswire/ -- Average rates on new card offers remained at 15.03 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

15.03%

15.03%

15.00%

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

15.46%

15.46%

14.51%

Reward

15.00%

15.00%

14.91%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

22.73%

22.73%

22.73%

Source: CreditCards.com


Updated: 8-13-2014


 

None of the issuers tracked by CreditCards.com altered interest rates this week. Issuers left promotional balance transfer offers and introductory purchase rates alone as well.

This is the 25th week this year that the national average APR hasn't budged. Credit card issuers tinker with interest rates so rarely these days that the national average has changed just seven times since Jan. 1.  

Four of those changes were due to just one issuer. Between April 2014 and July 2014, Chase increased the APR on a number of travel rewards cards, including the Southwest Airlines Rapid Rewards Plus card and the Disney Rewards Visa.

Most of the issuers tracked by CreditCards.com haven't changed rates since 2013. 

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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