AUSTIN, Texas, March 25, 2015 /PRNewswire/ -- Average rates on new credit card offers inched up this week for the first time in nearly five months, 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 |
14.90% |
14.87% |
15.05% |
11.62% |
11.53% |
10.37% |
|
14.04% |
14.01% |
12.73% |
|
12.85% |
12.85% |
12.80% |
|
13.14% |
13.14% |
13.24% |
|
15.28% |
15.28% |
14.91% |
|
15.10% |
15.15% |
15.46% |
|
15.04% |
15.00% |
15.02% |
|
17.93% |
17.93% |
28.00% |
|
22.48% |
22.48% |
22.73% |
|
Source: CreditCards.com |
|||
Updated: 03-25-2015 |
The national average annual percentage rate (APR) rose to 14.9 percent Wednesday after TD Bank increased the minimum APR on the TD Easy Rewards Visa from 9.99 percent to 12.99 percent.
The East Coast bank also lowered the card's maximum APR from 23.24 percent to 22.99 percent, but that change didn't affect the national average because CreditCards.com considers only a card's lowest APR when calculating average rates.
Capital One also introduced new rates this week. Cardholders who qualify for the Venture Rewards card are now offered a wider range of APRs, starting at 12.9 percent and topping out at 22.9 percent. Applicants were previously offered a narrower range of 13.9 percent to 20.9 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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