CreditCards.com Weekly Credit Card Rate Report: Average card rates remain stuck at 15 percent for 6th week

Jul 29, 2015, 14:30 ET from CreditCards.com

AUSTIN, Texas, July 29, 2015 /PRNewswire/ -- Interest rates on new credit card offers were left unchanged again this week, 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

15.00%

15.00%

14.89%

Low Interest

11.62%

11.62%

10.24%

Balance Transfer

14.12%

14.12%

12.80%

Business

12.85%

12.85%

12.85%

Student

13.14%

13.14%

13.14%

Cash Back

15.27%

15.27%

14.91%

Airline

15.10%

15.10%

15.52%

Reward

15.14%

15.14%

14.89%

Instant Approval

18.00%

18.00%

23.33%

Bad Credit

22.73%

22.73%

22.73%

Source: CreditCards.com


Updated: 07-29-2015


None of the issuers tracked by CreditCards.com adjusted interest rates. As a result, the national average APR remained lodged at 15 percent for the sixth consecutive week.

Promotional rates, including 0 percent purchase rates and interest-free balance transfer offers, were also left unchanged.

Issuers have mostly left credit card terms alone this summer. The last time a card tracked by CreditCards.com advertised a new promotional rate was in early June when Discover trimmed the "it" card's interest-free purchase and balance transfer offer from 15 months to 12 months. Interest rates have also largely stayed the same. The national average APR, for example, has changed just twice since the beginning of May.

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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