April 1, 2015
Austin, Texas — The national average APR on new credit card offers remained unchanged this week, according to the CreditCards.com Weekly Credit Card Rate Report.The average 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. Introductory (teaser) rates are not included in the calculation.
Rates for card categories tracked by CreditCards.com are listed below:
|Credit Card Rate Averages|
|Avg. APR||Last Week||6 Months ago|
|Bad Credit||22.48%||22.48%||22.73%|| Source: CreditCards.com
None of the cards tracked by CreditCards.com advertised new interest rates. As a result, the national average annual percentage rate (APR) stayed at 14.9 percent after increasing the previous week for the first time in nearly five months.
The average APR for cash back credit cards fell to 15.26 percent. However, that was due to a database change, rather than a term change. Occasionally, CreditCards.com refreshes the cards in the database in order to more accurately reflect the current card market.
The new card added to the database advertised the same APR as the card it replaced. But it was not a cash back card, so the average APR for cash back credit cards decreased.The CreditCards.com credit card rate survey (permalink: https://www.creditcards.com/rate-report) is conducted weekly, using offer data from the leading U.S. card issuers' websites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.
CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, https://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.
For more information, contact:
Senior Industry Analyst
512-996-8663, ext. 103
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.