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

Nov 18, 2015, 16:00 ET from CreditCards.com

AUSTIN, Texas, Nov. 18, 2015 /PRNewswire/ -- Interest rates on new credit card offers held steady Wednesday, 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%

14.92%

Low Interest

11.62%

11.62%

11.62%

Balance Transfer

14.07%

14.07%

14.04%

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%

15.04%

Instant Approval

18.00%

18.00%

17.93%

Bad Credit

22.73%

22.73%

22.73%

Source: CreditCards.com


Updated: 11-18-2015


 

None of the cards monitored by CreditCards.com advertised new interest rates. As a result, the national average annual percentage rate (APR) remained at 14.96 percent after falling the previous week for the first time in nearly nine months. Average rates on new card offers are now at their lowest point since May.

Most credit card issuers also left promotional offers unchanged. Wells Fargo trimmed the introductory APR and balance transfer period on the Wells Fargo Cash Back College card. Student cardholders now have just six months to take advantage of a 0 percent balance transfer offer and make interest-free purchases. Previously, Wells Fargo gave students up to 12 months to take advantage of the card's promotional offer.

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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