CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain at 15.01 percent

AUSTIN, Texas, Feb. 26, 2014 /PRNewswire/ -- Average rates on new credit card offers stayed put 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 Averages


Avg. APR

Last week

6 months ago

National Average

15.01%

15.01%

14.95%

Low Interest

10.33%

10.33%

10.46%

Balance Transfer

12.66%

12.66%

12.44%

Business

12.98%

12.98%

12.98%

Student

13.27%

13.27%

13.27%

Cash Back

14.84%

14.71%

14.51%

Airline

15.30%

15.30%

14.63%

Reward

14.97%

15.03%

14.77%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

22.73%

22.73%

23.48%

Source: CreditCards.com

Updated: 2-26-2014

The national average annual percentage rate (APR) remained at 15.01 percent Wednesday after rising by just .01 percent the previous week.

None of the cards tracked by CreditCards.com advertised new interest rates. Issuers left promotional terms, including introductory APRs and balance transfers, unchanged as well.

Average rates in two subcategories did change slightly this week. However, that was due to a minor reshuffling of the CreditCards.com database, rather than a rate change. 

The national average has remained at or above 15 percent for the past 23 consecutive weeks. That's the longest stretch of time average rates have remained above 14.99 percent since CreditCards.com began tracking rates in mid-2007.

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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