Research and Statistics

Rates remain at 15.03 percent for second week


July 23, 2014: Interest rates on new card offers didn’t budge this week, 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.’s Weekly Rate Report
Avg. APR Last week 6 months ago
National average15.03%15.03%15.06%
Low interest10.37%10.37%10.46%
Balance transfer12.64%12.64%12.55%
Cash back14.91%14.91%14.62%
Instant approval28.00%28.00%28.00%
Bad credit22.73%22.73%23.48%
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: July 23, 2014

Interest rates on new card offers didn’t budge this week, according to the Weekly Credit Card Rate Report.

The national average annual percentage rate (APR) remained at 15.03 percent.

This is the second week in a row that issuers left credit card interest rates unchanged. Promotional APRs and introductory balance transfer offers were also left untouched.

Credit card issuers rarely modify interest rates these days. The national average APR, for example, has changed just seven times since Jan. 1 in our weekly survey of offers for the 100 most-popular cards.

Over the past seven months, average APRs have declined somewhat, as the national average began the year at 15.06 percent. But year-over-year, average interest rates are higher than they were the previous summer. On July 23, 2013, for example, the national average APR was 14.96.

Average APRs rose to 15.02 percent in late September. They haven’t fallen below 15 percent since.

Higher spending is expected in the months ahead
Despite this month’s dip in consumer confidence, experts still predict that consumer spending will continue to improve as the economy gathers strength in the months ahead.

According to The Conference Board’s Leading Economic Index — which measures the overall health of the U.S. economy — the U.S. economy improved significantly last month, pushing the index up by 0.3 percent. That, in turn, has raised analysts’ hopes that economic growth will continue to speed up in the final months of 2014.

“The pace of economic activity continued to expand moderately through June,” said The Conference Board’s Ken Goldstein in a press release. “Stronger consumer demand driven by sustained job gains and improving confidence remains the main source of improvement.”

Meanwhile, retailers are busy preparing for back-to-school season and are expecting relatively strong sales this year, according to the National Retail Federation.

According to the group’s 2014 Back-to-School survey, families with school-age children expect to spend $34 more on new clothes, electronics and school supplies this summer than they did in 2013 (from $635 in 2013 to $669 in 2014).

While individual families expend to spend more, overall school-related retail sales are likely to dip this year due to a small drop in the number of kids who are school-aged, said the National Retail Federation. Retailers also predict that many parents will be on a strict budget, which could also dampen sales.

“Slow improvements in the economy may have contributed to the growth in confidence among back-to-school shoppers,” said the National Retail Federation’s Matthew Shay in a press release.

However, parents are unlikely to bust their budgets buying school supplies, he said. “While we are encouraged by the overall tone of the results and expect to see continued improvement in consumer spending through the year, we know Americans are still grappling with their purchase decisions every day. Throughout the history of this survey, spending has fluctuated based on family needs each year, and this summer, we expect parents to continue to use caution.”

See related:Collectors see less credit card debt,

What’s up next?

In Research and Statistics

Study: Data breaches pose a greater risk

It used to be that just 1 in 9 victims of a data breach had the hacked info used against them. Now the odds are 1 in 3, says a new study

Published: July 23, 2014

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.