CreditCards.com Weekly Credit Card Rate Report: Average credit card interest rates sit tight at 14.96 percent

Nov 25, 2015, 15:35 ET from CreditCards.com

AUSTIN, Texas, Nov. 25, 2015 /PRNewswire/ -- Average rates on new credit card offers stayed put 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

14.96%

14.96%

14.99%

Low Interest

11.62%

11.62%

11.62%

Balance Transfer

14.07%

14.07%

14.13%

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%

15.12%

Instant Approval

18.00%

18.00%

17.93%

Bad Credit

22.73%

22.73%

22.73%

Source: CreditCards.com


Updated: 11-25-2015


For the second week in a row, issuers left interest rates unchanged. As a result, the national average annual percentage rate (APR) remained at 14.96 percent. Issuers also left promotional APRs and balance transfer offers intact this week.

Interest rates on new credit card offers are currently at their lowest point in more than six months. After remaining below 15 percent for the first five months of 2015, average rates rose to 15 percent at the end of June and remained there for a record-setting 16 consecutive weeks. Interest rates increased slightly to 15.01 percent in mid-October before dropping to 14.96 percent the following month.   

Since January, rates have increased just five times and fallen three times.

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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