CreditCards.com Weekly Credit Card Rate Report: Average credit card interest rates sit tight at 15 percent

Aug 05, 2015, 12:00 ET from CreditCards.com

AUSTIN, Texas, Aug. 5, 2015 /PRNewswire/ -- Interest rates on new credit card offers held still 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

15.00%

15.00%

14.89%

Low Interest

11.62%

11.62%

10.24%

Balance Transfer

14.12%

14.12%

12.80%

Business

12.85%

12.85%

12.85%

Student

13.14%

13.14%

13.14%

Cash Back

15.27%

15.27%

14.91%

Airline

15.10%

15.10%

15.52%

Reward

15.14%

15.14%

14.89%

Instant Approval

18.00%

18.00%

23.33%

Bad Credit

22.73%

22.73%

22.73%

Source: CreditCards.com


Updated: 08-05-2015


For the seventh week in a row, the national average annual percentage rate remained at 15 percent. None of the cards included in the weekly rate report advertised new interest rates. For the ninth consecutive week, issuers also left promotional terms unchanged.

Issuers have been slow to change credit card terms for most of 2015, but they've been especially inactive this summer. All but two credit card offers included in the rate report have featured the same credit card terms since summer officially began in late June. The last time a card tracked by CreditCards.com advertised a new interest rate occurred during the last full week of June when Gap bumped up the APR on its retail credit 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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