CreditCards.com Weekly Credit Card Rate Report: Average card rates rise to 14.98 percent

09 Dec, 2015, 13:32 ET from CreditCards.com

AUSTIN, Texas, Dec. 9, 2015 /PRNewswire/ -- Interest rates on new credit card offers rose this week for the first time in almost two 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

14.98%

14.96%

14.99%

Low Interest

11.66%

11.62%

11.62%

Balance Transfer

14.08%

14.07%

14.13%

Business

12.85%

12.85%

12.85%

Student

13.14%

13.14%

13.14%

Cash Back

15.26%

15.27%

15.28%

Airline

14.91%

14.91%

15.10%

Reward

15.11%

15.09%

15.12%

Instant Approval

18.00%

18.00%

17.93%

Bad Credit

22.73%

22.73%

22.73%

Source: CreditCards.com


Updated: 12-09-2015


The national average annual percentage rate (APR) rose to 14.98 percent Wednesday after remaining at 14.96 percent for about a month.

Unlike previous weeks, however, this week's change was due to a reshuffling of the CreditCards.com database. Occasionally, CreditCards.com changes the cards in the database in order to more accurately reflect the current market.

Two cards represented in the database are no longer being offered online and have been replaced with similar cards. Earlier this month, American Express removed the Costco True Earnings card from its online offerings after agreeing to end its partnership with Costco earlier this year. Meanwhile, the regional bank KeyBank is no longer promoting the KeyBank Platinum MasterCard Rewards card.  

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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