Rate Report

Rate survey: Average card rates remain at 15.16% for fourth week


March 2, 2016: The average credit card interest rate stayed put Wednesday at 15.16 percent, according to the Weekly Credit Card Rate Report.

The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we may receive compensation when you click on links to products from our partners. Learn more about our advertising policy.

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Please see the bank’s website for the most current version of card offers; and please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

The average credit card interest rate stayed put Wednesday at 15.16 percent, according to the Weekly Credit Card Rate Report.

Several card issuers tweaked interest rates this week, but the changes were too small to affect the national average.

The retail chains Wal-Mart and Meijer both increased rates on their store credit cards by a quarter of a percentage point in response to the Federal Reserve’s 2015 rate increase. Since December, 94 cards in the database have increased rates by that same amount.

The Wal-Mart MasterCard now offers an APR ranging from 17.15 to 23.15 percent, while the Meijer card offers rates between 20.24 and 24.24 percent.

Earlier in the year, Regions Bank also increased the APR on the Regions Visa Platinum Rewards card by 0.25 percent, but then reversed that change this week.

Consumers slow down credit card payments

Consumers paid down credit card debt more slowly last month after ratcheting up payments at a record pace in January, according to new research from credit rating agency Fitch.

Fitch’s monthly payment index, which measures the rate at which consumers pay down their monthly balances, rose to its highest level in more than 20 years in January as consumers paid off outstanding debts at record rates.

After aggressively paying down the debt accumulated over the holidays, consumers slowed down the pace considerably in February and began paying off debts at about the same rate as in February 2015.

Overall, consumers are still treating credit cards with much more care than before the recession. However, new research from Bankrate indicates consumers are having a harder time building up their emergency savings, which could lead to more missed payments down the road.

According to a survey released in February, only 52 percent of Americans have set aside enough emergency savings that they could pay off all their card debt in a pinch — down from 58 percent in 2015.

“The percentage of Americans with more emergency savings than credit card debt dropped in the past year,” said Bankrate’s Greg McBride in an article about the survey. “The reading now is the same as in 2011 when the question was first asked, reflecting zero progress over that time.”

The survey also found that around 22 percent of consumers currently carry more credit card debt than emergency savings. Meanwhile, around 21 percent are credit card debt-free, but don’t have any emergency savings, either.’s Weekly Rate Report
Avg. APRLast week 6 months ago
National average15.16%15.16%15.00%
Low interest11.96%11.96%11.62%
Cash back15.21%15.20%15.27%
Balance transfer14.35%14.35%14.12%
Instant approval18.04%18.02%18.00%
Bad credit22.56%22.56%22.73%
Methodology: The national average credit card APR 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 listed above. (Introductory, or teaser, rates are not included in the calculation.)
Updated: March 2, 2016

See related:New lenders shun FICO, create their own scores, Allocating card payments on a limited budget

What’s up next?

In Rate Report

Infographic: Data breaches grow more personal

The theft of personal information accounted for 53 percent of 2015 data breaches.

Published: March 2, 2016

See more stories
Credit Card Rate Report Updated: August 14th, 2019
Cash Back

Questions or comments?

Contact us

Editorial corrections policies

Learn more

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

The editorial content on is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.