CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain at 14.95 percent

AUSTIN, Texas, June 12, 2013 /PRNewswire/ -- Interest rates on new credit card offers remained fixed 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

14.95%

14.95%

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

14.78%

14.78%

14.80%

Instant Approval

28.00%

28.00%

15.49%

Bad Credit

23.64%

23.64%

23.64%

Source: CreditCards.com

Updated: 6-12-2013

The national average annual percentage rate (APR) remained at 14.95 percent Wednesday after falling by 3 basis points the first week of June. 

Card issuers left APRs alone this week. For the first time in about a month, issuers left promotional offersincluding introductory APRs and balance transfersalone as well. 

Issuers have been unusually active this quarter compared to the first quarter of 2013 when changes to card terms were rare.

Over the past two months, for example, the national average has changed four weeks out of eight thanks to issuers modifying the APRs on a select number of cards.

That's a significant change from the first quarter of the year when the national average remained flat 10 weeks out of 13. 

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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