Research and Statistics

Rate survey: Average card APR remains at 15.79% for second week


May 17, 2017: The national average APR for new card offers remained near record highs 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.

The national average APR for new card offers remained near record highs Wednesday, according to the Weekly Credit Card Rate Report.

For the second week in a row, the national average remained at 15.79 percent – a near record. Earlier this month, the national average APR hit an all-time high of 15.80 percent.

Most card issuers left interest rates unchanged this week. U.S. Bank increased the maximum APR on the U.S. Bank Business Edge Cash Rewards card from 18.74 percent to 23.74 percent. However, the change didn’t affect the national average because only considers a card’s lowest available interest rate when calculating average rates. U.S. Bank left the Business Edge Cash card’s minimum APR of 12.74 percent unchanged.

None of the card issuers altered promotional terms this week, including 0 percent balance transfer offers and introductory purchase rates.

When paying bills, consumers put personal loans first

As card rates increase and issuers approve more applicants with damaged credit scores, missed credit card payments are on the rise.

Though still rare by historical standards, late credit card payments by 90 days have increased significantly since last year, according to research released this month by the credit agency TransUnion. The delinquency rate rose from 1.50 percent in the first quarter of 2015 to 1.69 percent in 2017. In 2015, the delinquency rate was just 1.34 percent.

TransUnion says that missed payments on credit cards have become more common, in part, because consumers with lower credit scores are qualifying for new cards at higher rates. “The recent surge in subprime cards has contributed to an increase in the card delinquency rate,” said TransUnion’s Paul Siegfried in a statement.

But a new report released by TransUnion on May 17 also indicates that consumers who are struggling to make their payments are putting credit card bills on the back burner while they pay other types of bills.

According to the report, consumers who are stretched thin by bill payments are choosing to pay personal loans first before they tackle other bills.

TransUnion says the latest trend in bill payments is a significant departure from previous years when consumers would prioritize auto loan payments and mortgages when deciding which bills to pay and which bills to let go.

“It is quite surprising that, for most struggling consumers, unsecured personal loan payments are prioritized over other prominent credit products such as mortgages and auto loans,” said TransUnion’s Ezra Becker in a news release.

In the past, consumers would pay their auto loans first, mortgages second and credit cards third, except during the Great Recession. As the housing crisis waged on in 2007 and 2008, consumers put their credit card payments ahead of their mortgage payments to protect their liquidity as their homes increasingly lost value.

Typically, however, credit card delinquency rates tend to be significantly higher than the delinquency rates on other types of loans. For example, the delinquency rate for credit cards that are late by 30 days or more was 3.65 percent in 2016. For personal loans it was 1.49 percent. For auto loans, it was 1.75 percent and 2.44 percent for mortgages.

TransUnion postulates that consumers are starting to put more emphasis on personal loans because they tend to be shorter-term and paying them first helps get them out of the way. “Personal loan borrowers may feel they can get a quick win with these loans even when they are struggling, and there is a clear, near-term end to the obligation – a \u2018light at the end of the tunnel,’ in a sense,” said Becker in the release. “In contrast, auto loans and mortgages have much longer terms, and credit cards have no set end date. Finding an opportunity to pay a debt in full can be a powerful motivator for a struggling consumer.”’s Weekly Rate Report
Avg. APRLast week 6 months ago
National average15.79%15.79%15.18%
Low interest12.66%12.66%12.00%
Cash back15.89%15.89%15.33%
Balance transfer15.07%15.07%14.41%
Instant approval18.30%18.30%17.86%
Bad credit23.23%23.23%22.86%
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: May 17, 2017

See related:Fed: Banks ease grip modestly on cards in first quarter of 2017, Fed: Card balances rose $1.9 billion in March

What’s up next?

In Research and Statistics

Poll: Credit card fraud alerts surge, false alarms still common

Consumers report a 15 percent increase in contacts from banks about credit, debit card fraud

Published: May 12, 2017

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.