BACK

Podcasts

Average card APR remains at 15.18 percent for eighth week

Summary

Nov. 30, 2016: The average APR on new card offers didn’t budge Wednesday, according to the CreditCards.com 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 content on this page is accurate as of the posting date. Some of the offers mentioned below may no longer be available. Please review our list of best credit cards to find our current offers, or use our CardMatch tool to find cards matched to your needs.

The average APR on new card offers didn’t budge Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report.

For the eighth week in a row, the national average APR remained at 15.18 percent.

None of the cards included in the weekly rate report advertised new interest rates. Promotional rates also stayed the same.

Card issuers have been reluctant to alter rates for most of 2016. After the Federal Reserve raised its benchmark interest rate by a quarter of a percent in December 2015, most cards in the database hiked APRs by the same amount. Since then, issuers have mostly left card APRs unchanged. As a result, 2016 is on track to be one of the most stable years on record for credit card interest rates. So far, the average APR has remained unchanged 37 weeks out of the year.

Card issuers gear up for heavy holiday spending
As the holiday shopping season heats up, credit card issuers are adding a bevy of incentives to lure new cardholders and encourage customers to use their cards for holiday travel and shopping.

American Express, for example, recently began offering extra points and cash back for shopping at designated local businesses. It’s also offering two free Uber rides over the holidays from major U.S. airports such as LaGuardia Airport in New York City, George Bush Intercontinental Airport in Houston and McCarran International Airport in Las Vegas.

Meanwhile, cash back cards such as the Chase Freedom card and the Discover it Cash Rewards card are offering extra large bonuses for shopping at holiday favorites, such as wholesale clubs and department stores.

Retail experts predict holiday shopping will be strong this year, thanks in part to a steadily growing economy and somewhat higher incomes. First Data’s analysis of Black Thanksgiving and Black Friday transactions found that overall sales growth was 9 percent higher than 2015. That bodes well for retailers – the National Retail Federation predicted in October that holiday shopping sales will likely increase by 3.6 percent in 2016.

Already, consumers are showing an increased willingness to open their wallets this year for the busiest shopping season of the year. According to research released Nov. 30 by the Commerce Department, for example, consumer spending jumped by more than half a percentage point – 0.6 percent – in October, despite an October 2016 survey showing that the 2016 presidential election negatively affected consumers’ willingness to spend.

A spike in online shopping is contributing to the strong retail season. According to Adobe Digital Insights, consumers spent $3.39 billion online on Cyber Monday — up by more than 10 percent from 2015.

“Cyber Monday is on track to be the biggest online shopping day ever, surpassing our forecast by almost $27 million or 0.8 percent,” said Adobe’s Tamara Gaffney in a statement. “This indicates that consumers still had more appetite for online shopping, despite the incredible volume of online sales on Black Friday.”

CreditCards.com’s Weekly Rate Report
Avg. APRLast week 6 months ago
National average15.18%15.18%15.19%
Low interest12.00%12.00%11.96%
Cash back15.33%15.33%15.30%
Balance transfer14.41%14.41%14.39%
Business13.12%13.12%13.12%
Student13.42%13.42%13.42%
Airline15.13%15.13%15.17%
Reward15.24%15.24%15.30%
Instant approval17.86%17.86%18.04%
Bad credit22.86%22.86%22.56%
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.)
Source: CreditCards.com
Updated: Nov. 30, 2016

See related: Discounted Uber and Lyft rides: Your card can be your ticket

What’s up next?

In Podcasts

Survey: Average card APR inches up to 15.19 percent

After sitting at 15.18% for nine weeks, a move by AmEx ratchets national average up

Published: August 17, 2016

See more stories
Credit Card Rate Report Updated: August 14th, 2019
Business
15.55%
Airline
17.50%
Cash Back
17.63%
Reward
17.50%
Student
17.69%

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 CreditCards.com 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.