Wednesday, April 13, 2016
Austin, Texas — The average credit card interest rate remained unchanged Wednesday, 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||22.56%||22.56%||22.73%|| Source: CreditCards.com
None of the cards included in the Weekly Rate Report altered minimum interest rates this week. As a result, the national average annual percentage rate remained at 15.16 percent for the tenth straight week.
Barclaycard floated a test offer containing a higher maximum rate on the Wyndham Rewards Visa Signature card. Some applicants are being offered a wider range of APRs, starting at 15.49 percent and maxing out at 25.24 percent. Others are still being offered a lower range of 15.49 percent to 20.24 percent.
Chase recently added higher maximum rates to some of its card offers as well. The higher rates could indicate that issuers such as Barclaycard and Chase are opening their doors to a wider range of applicants.
The CreditCards.com credit card rate survey (permalink: https://www.creditcards.com/rate-report) is conducted weekly, using offer data from 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.