CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain unchanged

AUSTIN, Texas, March 20, 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%

15.00%

Low Interest

10.29%

10.29%

10.40%

Balance Transfer

12.59%

12.59%

12.62%

Business

13.13%

13.13%

13.13%

Student                                  

13.16%

13.16%

13.16%

Cash Back

14.13%

14.13%

14.47%

Airline

14.63%

14.63%

14.63%

Reward

14.75%

14.75%

14.84%

Instant Approval

15.49%

15.49%

15.49%

Bad Credit

23.64%

23.64%

23.64%

Source: CreditCards.com

Updated: 3-20-2013

 

The national average annual percentage rate (APR) held steady at 14.95 percent Wednesday for the fifth consecutive week.

None of the issuers tracked by CreditCards.com altered rates this week.

Since Jan. 1, interest rates have remained unchanged nine weeks out of 12. In the rare instances that the national average did change this year, it moved by just one hundredth of a percentage point.

Credit card issuers have been slow to make substantial changes to card offers for much of the past year. Average credit card interest rates, for example, have hovered between 14.9 percent and 15.01 percent since March 21, 2012.

Many of the cards tracked by CreditCards.com have also featured the same promotional offers since early 2012.   

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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