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CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain stuck at 15.06 percent

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AUSTIN, Texas, Dec. 24, 2013 /PRNewswire/ -- Average 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

15.06%

15.06%

14.96%

Low Interest

10.46%

10.46%

10.37%

Balance Transfer

12.55%

12.55%

12.39%

Business

12.98%

12.98%

12.98%

Student

13.27%

13.27%

13.16%

Cash Back

14.62%

14.62%

14.85%

Airline

14.51%

14.51%

14.63%

Reward

14.91%

14.91%

14.79%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

23.48%

23.48%

23.64%

Source: CreditCards.com

Updated: 12-24-2013

The national average annual percentage rate (APR) remained fixed at 15.06 percent Tuesday for the sixth consecutive week.

Average rates are currently at their highest point since 2012. For the past 14 weeks, the national average has hovered above 15 percent. As a result, the average APR for the year recently increased to 14.98 percent -- 0.02 percent higher than the average APR for 2012.

None of the cards tracked by CreditCards.com featured new interest rates this week. Issuers left most credit card promotions alone as well.

Discover reintroduced a promotional APR to the "it" card for students, offering new cardholders six months to make interest-free purchases. Students are also offered a 10.99 percent promotional balance transfer for the same amount of time.

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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