The average is composed 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:
The average annual percentage rate (APR) on new card offers remained fixed at 14.91 percent Wednesday. This is the eighth time this year rates have remained unchanged.
Looking back at the first quarter of 2012, rates changes have been largely favorable to cardholders. Except for a surge in March, when several rewards cards raised rates, the average APR has either declined or stayed put.
That said, consumers seeking new cards are still contending with relatively high rates. A year ago, average interest rates were at 14.67 percent. By Dec. 14, 2011, they climbed to 15.22 percent, which is the highest average recorded since CreditCards.com began tracking rates in mid-2007.
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.
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.