CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates linger at 15 percent

AUSTIN, Texas, April 30, 2014 /PRNewswire/ -- Average rates on new card offers remained unchanged 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%

15.03%

Low Interest

10.37%

10.37%

10.46%

Balance Transfer

12.64%

12.64%

12.49%

Business

12.80%

12.80%

12.98%

Student

13.27%

13.27%

13.27%

Cash Back

14.84%

14.84%

14.62%

Airline

15.30%

15.30%

14.51%

Reward

14.96%

14.96%

14.87%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

22.73%

22.73%

23.48%

Source: CreditCards.com

Updated: 4-30-2014

The national average annual percentage rate (APR) idled at 15 percent Wednesday for the third straight week.

None of the issuers tracked by CreditCards.com introduced new terms. That includes changes to promotional balance transfer offers and introductory APRs.

For the third week, Chase advertised a shorter promotional period on the Chase Freedom card. However, Chase is still offering a longer promotion to some applicants.

Depending on where you access the card's application online, you may be offered a 0 percent APR on balance transfers and purchases for 15 months. Or, you could be offered a less generous promotional period that lasts for just 12 months.

Previously, applicants who visited the Chase website were only offered a 15-month promotion for the Freedom 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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