AUSTIN, Texas, April 13, 2016 /PRNewswire/ -- The average credit card interest rate remained unchanged Wednesday, 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) rastes are not included in the calculation.
Rates for card categories tracked by CreditCards.com are listed below:
Credit Card Rate Averages
Avg. APR |
Last week |
6 months ago |
|
National Average |
15.16% |
15.16% |
15.01% |
11.96% |
11.96% |
11.62% |
|
14.36% |
14.36% |
14.12% |
|
13.12% |
13.12% |
12.85% |
|
13.42% |
13.42% |
13.14% |
|
15.21% |
15.21% |
15.27% |
|
15.17% |
15.17% |
15.14% |
|
15.26% |
15.26% |
15.15% |
|
18.04% |
18.04% |
18.00% |
|
22.56% |
22.56% |
22.73% |
|
Source: CreditCards.com |
|||
Updated: 4-13-2016 |
None of the cards included in the Weekly Rate Report altered minimum interest rates this week. As a result, the national average annual percentage rate remained at 15.16 percent for the tenth straight week.
Barclaycard floated a test offer containing a higher maximum rate on the Wyndham Rewards Visa Signature card. Some applicants are being offered a wider range of APRs, starting at 15.49 percent and maxing out at 25.24 percent. Others are still being offered a lower range of 15.49 percent to 20.24 percent.
Chase recently added higher maximum rates to some of its card offers as well. The higher rates could indicate that issuers such as Barclaycard and Chase are opening their doors to a wider range of applicants.
The CreditCards.com credit card rate survey (permalink: http://www.creditcards.com/rate-report) is conducted weekly, using offer data from 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.
Logo - http://photos.prnewswire.com/prnh/20090210/CCLOGO
SOURCE CreditCards.com
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article