CreditCards.com Weekly Credit Card Rate Report: Average card rates remain at 14.99 percent

May 27, 2015, 15:06 ET from CreditCards.com

AUSTIN, Texas, May 27, 2015 /PRNewswire/ -- Average rates on new card offers lingered at 14.99 percent Wednesday after increasing the previous week to their highest point in more than six months, 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

14.99%

14.99%

14.98%

Low Interest

11.62%

11.62%

10.37%

Balance Transfer

14.13%

14.13%

12.73%

Business

12.85%

12.85%

12.85%

Student

13.14%

13.14%

13.14%

Cash Back

15.26%

15.26%

14.94%

Airline

15.10%

15.10%

15.46%

Reward

15.12%

15.12%

14.93%

Instant Approval

17.93%

17.93%

23.33%

Bad Credit

22.73%

22.73%

22.73%

Source: CreditCards.com

Updated: 05-27-2015


 

None of the cards tracked by CreditCards.com advertised new interest rates. Promotional terms were also left unchanged.  

Average rates on new card offers are higher now than they've been in months. The last time the national average APR stayed above 14.98 percent was in November 2014. Over the past six months, average card rates have mostly declined, hitting a nearly three-year low in February as issuers trimmed APRs on a select group of cards.

Since then, average APRs have picked up somewhat as issuers hike rates on selected offers. However, the national average APR is still lower now than it was for most of 2014.

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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