Research and Statistics

Credit card interest rates remain at 14.95 percent


Aug. 14, 2013: Average rates on new credit card offers remained at 14.95 percent Wednesday, 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. APRLast week 6 months ago
National average14.95%14.95%14.96%
Low interest10.46%10.46%10.29%
Balance transfer12.44%12.44%12.59%
Cash back14.51%14.51%14.17%
Instant approval28.00%28.00%15.49%
Bad credit23.48%23.48%23.64%
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: Aug. 14, 2013

Average rates on new credit card offers remained unchanged this week, according to the Weekly Credit Card Rate Report.

The national average annual percentage rate (APR) stayed put at 14.95 percent Wednesday, after dipping by one basis point the previous week.

None of the cards tracked by featured rate changes this week. Most credit card issuers also left promotional balance transfer offers and short-term APRs alone as well.

One issuer, Barclays, fine-tuned an offer on a rewards credit card for frequent fliers. Barclays introduced a 0 percent APR offer to the U.S. Airways Premier World MasterCard. Applicants who qualify for the U.S. Airways card will now be able to make interest-free purchases for up to 12 months.

The issuer also shortened the card’s 0 percent balance transfer period from 15 months to 12 months. Barclays left the card’s $89 annual fee alone.

Credit card use falls again
Issuers have slowly increased the number of changes they made to  card offers in recent months as they try to lure new customers and encourage current cardholders to spend. However, many credit card holders are still reluctant to pull out their plastic.

As the economy gradually gains steam, consumers are taking out larger numbers of loans and slowly increasing household debt, research shows. But many are leaving their credit cards at home or are only charging what they can afford to quickly repay.

Consumer borrowing, excluding mortgages, for example, rose by nearly 6 percent in June, according to a report released Aug. 7 by the Federal Reserve. However, revolving credit — which is mostly made up of credit card debt — fell by 3.8 percent.

The Federal Reserve’s latest report on household debt and credit shows that consumers are feeling confident enough about the economy to borrow money for a new car or pay for higher education. But many still aren’t ready to charge smaller items to their high-interest cards.

According to a second report, released Aug. 13 by TransUnion, the average borrower is carrying about the same amount of credit card debt as he or she did during this time last year.

The average amount of card debt per borrower, for example, fell, year-over-year, to $4,965 in the second quarter of 2013 — down from $4,971 in 2012.

Consumers are also continuing to pay their bills on time at record rates. Late payments by 90 days or more fell to the lowest levels in almost 19 years, according to TransUnion.

“Consumers continue to value their credit card relationships as a primary means of liquidity. This is best demonstrated by the historically low credit card delinquency rates we see today,” said TransUnion’s Ezra Becker in a statement accompanying the report.

Consumers weary of looming rate hikes

A number of consumers told researchers that they think the Federal Reserve is going to raise rates this year after leaving them alone for nearly five years, according to the survey.

The Federal Reserve has left the federal funds rate target — which helps set other rates, including credit cards — near zero since December 2008. As a result, loans on new homes and cars have been much more affordable over the past several years.

Now that the economy is growing at a faster pace, the Federal Reserve could decide to raise interest rates sooner than it forecast.

According to the report, 68 percent of consumers told researchers that they thought interest rates would rise sometime in the next year — up from 33 percent in July 2012.

As a result, a larger number of consumers — particularly those with higher incomes — said that they would likely rush their borrowing this year in order to take advantage of today’s record low rates. “Among households with incomes of $75,000 or more, more than one-in-four cited the advantage of buying homes before prices or interest rates increased in July,” wrote researchers in the report.

See related:Feds ease up on credit limits

What’s up next?

In Research and Statistics

Infographic: Consumers cutting back — but also spending more

Consumers are pinching pennies when it comes to small purchases, while opening their wallets for bigger ones, according to July 2013 research from Harris Interactive.

Published: August 13, 2013

See more stories
Credit Card Rate Report Updated: September 18th, 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.