BACK

Rate Report

Rate survey: Average card APR stays at 16.15 percent for eighth week

Summary

Nov. 8, 2017: Interest rates on new credit 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.

Interest rates on new credit card offers didn’t budge Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report.

None of the cards tracked by CreditCards.com advertised new interest rates. As a result, the national average APR remained fixed at 16.15 percent for the eighth consecutive week. The average card APR is currently at its highest point in more than 10 years.

Most cards also left promotional terms untouched this week.

Pentagon Federal Credit Union added a 0 percent balance transfer offer to the PenFed Power Cash Rewards Visa Signature card. Applicants now get 12 months to pay off a transferred balance, interest-free.

Among the 100 cards included in the weekly rate report, 18 now offer interest-free promotions for at least 12 to 14 months. Sixteen cards offer 0 percent promotions lasting as long as 15 months or more.

Starbucks, Uber and Hilton set to launch new affiliated credit cards

Cardholders who like to take advantage of retail and travel loyalty programs will soon have an even wider range of cards to choose from.

A number of affiliated card programs are getting ready to launch over the next year, making it even easier for repeat customers to cash in on their brand loyalty.

Starbucks CEO Kevin Johnson announced in an earnings call Nov. 2 that the coffee mega chain is partnering with Chase on a new co-branded Starbucks Visa card. “We are pleased to announce that our first product with Chase, to be launched this winter, will be a co-branded Visa credit card, enabling customers to receive Starbucks Rewards with their purchases both in and out of Starbucks stores,” Johnson said on the call.

The coffee chain CEO didn’t provide any additional details about what specific rewards the new card would offer, but promised that they would be “very rich.”

American Express, meanwhile, announced Nov. 1 it’s teaming up with the hotel chain Hilton on two new high-end travel cards, including an elite super premium credit card with a $450 annual fee.

The new Hilton Honors American Express Aspire card will offer a number of supersized benefits, including at least one guaranteed free hotel stay per year, hefty airline and resort credits, upgraded loyalty status and a huge points bonus. “The Aspire Card offers the most Hilton Honors Points we have ever offered for spending in our hotels,” Hilton Senior Vice President Mark Weinstein said in a news release.

The less expensive Hilton Honors American Express Ascend card — which will cost $95 a year to own — will also offer a substantial suite of benefits, including a free annual hotel stay every year that cardholders spend at least $15,000, free lounge passes and a large points bonus on hotel, grocery store, restaurant and gas purchases.

The ridesharing company Uber also recently announced a brand-new affiliated credit card. Uber is teaming up with Barclaycard on a rewards card that will offer an industry-leading bonus on dining purchases and a significant boost on airfare, hotel and online purchases. It will also offer a number of millennial-friendly perks, such as a subscription credit for streaming purchases and insurance coverage for high-end mobile phones.

Meanwhile, the ride sharing company Lyft is also working on its own co-branded credit card, according to The Wall Street Journal.

CreditCards.com’s Weekly Rate Report
Avg. APRLast week 6 months ago
National average16.15%16.15%15.80%
Low interest12.89%12.89%12.70%
Cash back16.40%16.40%15.89%
Balance transfer15.38%15.38%15.08%
Business13.68%13.68%13.66%
Student15.70%15.70%13.92%
Airline16.07%16.07%15.77%
Reward16.24%16.24%15.87%
Instant approval18.60%18.60%18.28%
Bad credit23.46%23.46%23.23%
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. 8, 2017

See related: Banks tighten credit card loan standards, Fed says

What’s up next?

In Rate Report

Rate survey: Average card APR remains at 16.15 percent for seventh week

Nov. 1, 2017: Interest rates on new credit card offers held steady Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report

Published: November 1, 2017

See more stories
Credit Card Rate Report Updated: July 17th, 2019
Business
15.61%
Airline
17.59%
Cash Back
17.68%
Reward
17.58%
Student
17.79%

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.