2014

CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates hold steady at 14.96 percent

AUSTIN, Texas, July 5, 2013 /PRNewswire/ -- Interest rates on new credit card offers remained flat this week, according to the CreditCards.com Weekly Credit Card Rate Report.

(Logo: http://photos.prnewswire.com/prnh/20090210/CCLOGO)

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 Averages


Avg. APR

Last week

6 months ago

National Average

14.96%

14.96%

14.96%

Low Interest

10.37%

10.37%

10.40%

Balance Transfer

12.39%

12.39%

12.62%

Business

12.98%

12.98%

13.13%

Student

13.16%

13.16%

13.31%

Cash Back

14.85%

14.85%

14.30%

Airline

14.63%

14.63%

14.63%

Reward

14.79%

14.79%

14.80%

Instant Approval

28.00%

28.00%

15.49%

Bad Credit

23.64%

23.64%

23.64%

Source: CreditCards.com

Updated: 7-05-2013

The national average annual percentage rate (APR) remained at 14.96 percent Wednesday for a second week.

Most credit card issuers left interest rates and promotional terms, such as 0 percent balance transfer offers, alone this week. 

One issuer -- the sporting goods store Cabela's – raised the maximum available APR on its credit card for club members by 3 percentage points. The rate hike didn't affect the national average, however, because CreditCards.com considers only a card's lowest available rate when calculating average interest rates.

Cabela's increased the maximum APR on the Cabela's Club Visa card from 18.18 percent to 21.19 percent. Cabela's left the card's minimum rate of 9.99 percent alone.

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.

SOURCE CreditCards.com



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