AUSTIN, Texas, April 6, 2016 /PRNewswire/ -- The average credit card interest rate held firm 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) rates 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% |
15.00% |
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% |
15.10% |
|
15.26% |
15.26% |
15.14% |
|
18.04% |
18.04% |
18.00% |
|
22.56% |
22.56% |
22.73% |
|
Source: CreditCards.com |
|||
Updated: 4-06-2016 |
For the ninth week in a row, the national average percentage rate remained at 15.16 percent.
Two credit cards included in the weekly Rate Report advertised new interest rates. However, the changes didn't affect the national average.
The sporting goods store Cabela's clipped the APR on the Cabela's Club Visa card by just 0.01 percent after the LIBOR rate changed. Cabela's Club members are now offered a range starting at 15.42 percent and ending at 21.42 percent.
Meanwhile, Chase added a new maximum APR to the Southwest Airlines Rapid Rewards premier card. Consumers who apply for the airline card may now be offered an APR as high as 23.24 percent. Previously, cardholders were given just a flat rate of 16.24 percent.
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.
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SOURCE CreditCards.com
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