CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates increase to 15.05 percent

AUSTIN, Texas, Nov. 6, 2013 /PRNewswire/ -- Interest rates on new credit card offers rose to 15.05 percent this week, according to the CreditCards.com Weekly Credit Card Rate Report.

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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

15.05%

15.03%

14.94%

Low Interest

10.46%

10.46%

10.29%

Balance Transfer

12.55%

12.49%

12.62%

Business

12.98%

12.98%

12.98%

Student

13.27%

13.27%

13.16%

Cash Back

14.62%

14.62%

14.17%

Airline

14.51%

14.51%

14.63%

Reward

14.90%

14.87%

14.73%

Instant Approval

28.00%

28.00%

15.49%

Bad Credit

23.48%

23.48%

23.64%

Source: CreditCards.com

Updated: 11-06-2013

 

Barclays spurred this week's rate change by increasing the APR on the Wyndham Rewards Visa Signature card. Applicants who access the card online are now offered an APR range of 15.24 percent to 19.99 percent. Previously, some applicants were offered an APR as low as 13.24 percent.

The sporting goods store Cabela's also adjusted card APRs this week. Cabela's lowered the minimum available APR for nonstore purchases from 15.17 percent to 15.16 percent.

American Express and Chase were active this week as well. Chase reinstated the 15-month 0 percent APR offer on the Chase Freedom card after briefly eliminating it.

Meanwhile, American Express modified the introductory offer period for the Blue for Business card. Cardholders now have nine months to make interest-free purchases.

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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