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

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AUSTIN, Texas, June 26, 2013 /PRNewswire/ -- Interest rates on new credit card offers remained unchanged 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

14.96%

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: 6-26-2013

The national average annual percentage rate (APR) remained at 14.96 percent Wednesday after rising the previous week for the first time in more than a month.

Despite leaving APRs alone this week, issuers have been more active than usual this summer. For example, the national average has fluctuated more often over the past 10 weeks than it has in months.

Since April 24, the national average has changed five weeks out of 10. Compare that to the previous 10 weeks when the national average changed just once in a little more than two months.

The more recent frequent changes reflect credit card issuers' tinkering with new offers as they try to attract a broader customer base. 

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



RELATED LINKS
http://www.creditcards.com

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